BUYER
FAQs

The first step is getting pre-approved for a mortgage. This helps you understand your price range and sets the foundation for your home search. You can also establish a comfortable budget, as long as your pre-approval meets or exceeds it.

That depends on how long it takes for you to find the right home and get an offer accepted. Once you are in contract, the average escrow is 30 days.

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond.

Most lenders require a minimum credit score of 620. However, some programs may accept lower scores depending on the circumstances. Keep in mind, lower scores often mean higher interest rates.

For conventional loans, a 20% down payment is standard. However, some programs offer options as low as 3% or even 0%. Your loan officer can guide you to the best choice for your situation.

Beyond the down payment, lending fees are a significant cost. Most lenders charge 2% to 4% of the loan amount for origination fees, depending on the loan type. Conventional loans often have lower origination fees but require a higher down payment. Your loan officer can provide a detailed estimate of these costs.

In a multiple-offer situation, the seller chooses the offer that best meets their needs. Your agent will help you craft a competitive offer to stand out and increase your chances of success.

The appliances that remain with the home should be listed in the contract. Your agent can help you negotiate the terms of the contract for any appliances that you may want to be a part of the sale. The Seller is not obligated to leave appliances that are not built in.

1. Overall Dallas: The average home value in Dallas, TX, is $316,469, reflecting a 2.3% increase over the past year. 2. Least Expensive Areas: In some of the least expensive neighborhoods, median sales prices rose from $41,500 in 2018 to over $1.4 million in 2023. 3. Recent Trends: The median home sold price in Dallas was $248,000 in March 2024, with a median price per square foot of $145. 4. Recent Data: In the last 30 days, homes for sale in Dallas, TX, sold for a median price of $465,244, marking a 17.7% increase compared to the same period last year. These figures provide insights into the diverse real estate market across different areas of Dallas.