Free guide · 18 min read
Everything you need to know to buy a home, land or acreage in North Texas — from your first pre-approval to the day you get the keys.
What’s inside
4 chapters · 16 topics · written for Texas buyers
Chapter 1
A little preparation now saves weeks later. Know your budget, your loan options and the help available before you start touring.
Plan for three buckets of cash: your down payment, your closing costs, and the earnest money and option fee you pay when your offer is accepted (both are usually credited back to you at closing if you close).
No. Many buyers put down far less. Twenty percent simply avoids private mortgage insurance (PMI) on a conventional loan. The right amount depends on your savings, monthly comfort and how long you plan to stay.
Keep a cushion. Emptying your savings for a bigger down payment can leave you short for moving costs, furniture and the first repairs every house needs.
A pre-approval means a lender has reviewed your income, assets and credit and is prepared to lend up to a certain amount. In competitive neighborhoods, sellers expect to see one with your offer.
Avoid opening new credit cards, financing furniture or changing jobs between pre-approval and closing — it can change your approval.
Texas offers several programs that help with down payment and closing costs, often for first-time buyers or specific professions. Examples include the Texas State Affordable Housing Corporation (TSAHC) programs such as Homes for Texas Heroes, and the TDHCA My First Texas Home program. Income, price and credit limits apply.
Ask your lender which programs they participate in — not every lender offers every program.
PMI protects the lender, not you, but it is often what makes buying possible sooner. On a conventional loan you can usually ask to remove it once you reach 20% equity.
Chapter 2
North Texas offers everything from new subdivisions to acreage. Knowing what to look for keeps the search focused.
Take a short video of every home. After the fifth showing, they start to blur together.
New homes offer modern plans, warranties and builder incentives. Resale homes offer mature trees, established neighborhoods and often lower tax rates. Compare the total monthly cost, including MUD or PID taxes, HOA dues and what a new home still needs (blinds, fencing, landscaping).
Bring your agent on your first model-home visit — many builders require it for your agent to represent you.
Land comes with its own checklist: legal access, water, septic suitability, floodplain, deed restrictions, mineral rights and agricultural valuation. Read our full Land & Acreage guide before you write an offer.
Chapter 3
In Texas, offers are written on standard Texas Real Estate Commission (TREC) contracts. Strategy is in the terms, not just the price.
Your agent reviews recent sales, days on market and the seller’s situation, then helps you write an offer on the TREC One to Four Family Residential Contract. Key terms include price, earnest money, option fee and days, financing, closing date and any seller concessions.
The highest price doesn’t always win. Sellers often choose the offer most likely to close smoothly.
In the North Texas MLS, a home under contract may show as Active Option Contract (the buyer is in their option period), Active Contingent (the sale depends on something such as the buyer selling their home), or Active Kick Out (the seller can accept backup offers). Once those periods pass, it moves to Pending.
Chapter 4
Once your offer is accepted, the clock starts. Here is what happens between contract and keys.
For the option fee, you get an unrestricted right to terminate during the option period. That is when you complete inspections, get repair estimates and negotiate repairs or credits with the seller.
Your lender orders the appraisal. The title company searches the property’s ownership history and issues a title commitment. You will review any survey — sometimes the seller’s existing survey can be used with a T-47 affidavit. Title insurance rates in Texas are set by the Texas Department of Insurance.
Buyer closing costs typically include lender fees, appraisal, title charges, survey, and prepaid property taxes and insurance. Your Loan Estimate and, later, your Closing Disclosure show the exact figures. Seller concessions and some assistance programs can help cover them.
Never wire money based on emailed instructions without calling your title company at a verified number first. Wire fraud targets home buyers.
Quick answers
You aren’t required to have one, but an agent helps you price offers, negotiate repairs, meet deadlines and avoid costly mistakes. In Texas you will sign a written buyer representation agreement that spells out services and compensation.
Once you are under contract, a financed purchase usually closes in about 30 to 45 days. Finding the right home can take a weekend or several months.
If you plan to stay at least a few years and have stable income and savings, buying often builds long-term wealth. If your plans may change soon, renting can be the smarter short-term move.
Yes. We do live video tours, coordinate inspections remotely and work with title companies that offer mail-away or remote closings.
This guide is general information for Texas buyers and sellers, not legal, tax or lending advice. Every transaction is different — talk with me, your lender, title company or tax professional about your situation.
Ready when you are
A simple conversation about where you are in the process is the best first step.
