Austin TX Real Estate - Hill Country Austin Lakeway Homes for Sale: Real Estate - Buying a House - Austin TX- The Simple Steps to Follow- Part 5

Real Estate - Buying a House - Austin TX- The Simple Steps to Follow- Part 5

When buying a house in Austin TX, there are several steps to follow, but if broken down, it's much less intimidating. What else helps?  Doing the steps in a particular order.

For example, Part 1 of buying a house in Austin TX talked about getting Pre-Approved for a mortgage, while Part 2 talked about how to start looking for houses and neighborhoods.  Part 3 talked about actually looking at the insides of houses, while Part 4 talked about writing the offer.

This next part will address the inspections.

ALL houses in Texas are sold "AS IS".  This means that all houses are sold from seller to buyer in their current state of condition.

However, buyers and sellers can negotiate an inspection period in the contract.  The inspection period is usually refered to as the "Option Period" because this is the amount of time the buyer has the "option" to back out of the contract for any reason they want.

Why is it important for a buyer to get an independant inspection on the home they're about to buy?  So they know any underlying issues with the house that they couldn't see on the surface. 

What is a buyer looking for in the inspection?  They're looking for issues pertaining to the "functionality of the home".  This means, is the foundation performing as intended; is the roof in good condition and insurable; is the AC running and cooling properly?

What is the inspection NOT looking for?  The ceiling fan is wobbly; the faucet has a drip; Caulk is needed around the bathtub...

The inspection is not for a laundry list of items to hand over to the seller.  You're buying a house "AS IS", and no house is perfect, and part of home ownership is making the house your own... but if there is something pertaining to the actual functionality of the home, repairs can further be negotiated as those were things you didn't know about previously and the house needs to function.

Sellers are also not obligated to fix things within the house that were not code at the time the house was built.  For example, houses built in the 1960's might not have GFCI protection on their outlets.  This is a fast, easy, and very inexpensive repair, and a seller who didn't do it while they lived in the house, is not going to do it for you because your inspector said it needs to be done.

Another example is the water heater not having a drip pan.  This is a fairly new code, over the past few years, and if the water heater is 10-15 years old, or even older, there might not be a drip pan under it, and a seller isn't going to pay the expense to put a drip pan underneath it.  You, as the new home owner, should remember to put one under it when you replace the current one.

Again, inspections are not intended for the buyer to hand a list of minor maintenance items to the seller and demand fixes. The inspection is so you know the current condition of the property so you know what to address once you move in.

Part 6 talks about the waiting game as your closing date comes near.

**Are You Packed Yet?** 

donna harris Realtor Austin TX blog

Donna Harris, REALTOR®
RE/MAX Austin Skyline
www.DonnaHomes.com
Donna@DonnaHomes.com

Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way. 

For real time Austin TX listings, click here.

** #1 Agent in my Office for all of 2008 **

Copyright© 2009 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* Real Estate - Buying a House - Austin TX-  The Simple Steps to Follow- Part 5 * was first published on donnahomesblog.com

Comment balloon 9 commentsDonna Harris • August 22 2009 08:17PM

Comments

Donna-Great blog-Great series for the home buyer.

Posted by Joseph D. Federico, Eastern Massachusetts Real Estate (Donahue Real Estate Co.) about 9 years ago

great information for your home buyers.  I i

Posted by Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com (Real Estate One) about 9 years ago

Great information for your home buyers.  I think you should print these out to give out as a first time homebuyer booklet

Posted by Russ Ravary ~ Metro Detroit Realtor call (248) 310-6239, Michigan homes for sale ~ yesmyrealtor@gmail.com (Real Estate One) about 9 years ago

Donna you did a very good job with this series. Whether it is a first time buyer or a seasoned buyer these reminders can always be put to good use.

Posted by Carl Winters about 9 years ago

This has been a stellar series Donna!
Just a thought this Saturday,
Paul

Posted by Paul S. Henderson, REALTORĀ®,CRS,, Tacoma Washington Agent/Broker & Market Authority! (RE/MAX Northwest.) about 9 years ago

Joseph, THank you.

Russ, Thank you, and thanks for the tip, I'll incorporate in the next one.

C & C, Thank you!

Paul, And thank you to you too!

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) about 9 years ago

Donna -

I have so enjoyed following your series - especially since you have broken it down into nice, digestible 'hunks.'  Ways of doing business vary from state to state but the basics are all the same,

Michael

Posted by Michael Bergin, Northern Virginia Real Estate (Coldwell Banker Residential Brokerage - ABR - SRES ) about 9 years ago

Michael, Thank you. I'm glad you've found them useful and helpful.

Posted by Donna Harris, Realtor,Mediator,Ombudsman,Property Tax Arbitrator (Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com) about 9 years ago

Wow, I just learned something new, I had no idea that all homes in TX were sold "as-is".  In TN "as-is" sales are usually just for short sales and foreclosures.  Some sellers of course will not agree to fix anything, but usually something is getting repaired.

Posted by Christine McInerney, The McInerney Team, Knoxville TN Homes For Sale (Great Life RE) about 9 years ago

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