The Buyer's Playbook

Why It Matters

Pre-approval shows sellers you're serious and gives you a clear budget. It's different from pre-qualification — it involves a real credit check and proof of assets.

What You'll Need

• Recent W2s and pay stubs (last 2 months)
• 2 years of tax returns
• Bank and investment statements
• Valid ID
• Permission for credit check

Pro Tips

• Shop multiple lenders — rates vary significantly
• Ask about points vs. no-point mortgages
• Consider a 15-year vs. 30-year mortgage
• Pre-approval is good for 60-90 days

Your Search Strategy

Use multiple tools — MLS listings, Zillow, and direct agent networks. Work with an experienced buyer's agent who has access to pre-listing inventory and can negotiate on your behalf.

Red Flags & Green Flags

Green Flags:

• Newer roof (15+ years left)
• Updated HVAC and electrical systems
• Foundation is level with no cracks
• Good water pressure and drainage

Red Flags:

• Mold, water damage, or musty smell
• Outdated electrical panel (may need upgrade)
• Foundation cracks or settling
• Previous flood or fire damage

What to Include in Your Offer

• Purchase price
• Earnest money deposit (typically 1-3%)
• Contingencies (inspection, appraisal, financing)
• Closing date
• Any requested repairs or credits
• Personal note to seller (optional but powerful)

Negotiation Tactics

In Fort Worth's market, offering above asking price is common for competitive homes. But you have leverage — a strong offer includes a good pre-approval, quick closing timeline, and minimal contingencies.

• Research recent comps to justify your offer price
• Get pre-approval from a lender the seller trusts
• Close fast if possible (30 days vs. 45 days matters)
• Be willing to walk if the deal doesn't work

Why Inspections Matter

A $400 inspection can save you thousands in hidden repairs. You have 7-10 days (negotiable) after inspection to request repairs or renegotiate.

What Gets Inspected

• Roof, gutters, and exterior
• Foundation and structural integrity
• HVAC system and ductwork
• Plumbing and electrical
• Appliances and built-ins
• Attic and basement

After the Inspection

Review the inspection report carefully. Decide which issues are deal-breakers vs. minor wear-and-tear. Request repairs, credits, or credits as needed.

The Appraisal

Your lender orders this to verify the home's value matches your purchase price. If the appraisal comes in low, you have options: renegotiate, pay the difference, or walk away.

Final Walkthrough Checklist

Do this 24 hours before closing. Verify:

• Agreed-upon repairs were completed
• Promised credits were made (if applicable)
• All fixtures (chandelier, kitchen island, etc.) stay
• No new damage or major changes
• Home is in agreed-upon condition

What to Expect

You'll meet with a title company or attorney to sign papers and transfer funds. This takes 1-2 hours.

• Review and sign closing disclosure (3+ days before closing)
• Bring government-issued ID
• Bring a cashier's check or wire for down payment + closing costs
• Review final closing statement for accuracy
• Sign all documents

After Closing

Congratulations! You now own your home. Next steps:

• Schedule utility transfers
• Change locks if needed
• Set up homeowner's insurance
• Plan any immediate repairs or updates
• Register the deed with your county

How much should I offer above asking price?

It depends on market conditions and competition. In a hot market, 5-10% over asking is common. Your agent should analyze recent sales (comps) to guide you.

What if my appraisal comes in low?

You can renegotiate the price down to match the appraisal, pay the difference in cash, or walk away. Your agent and lender can help you evaluate options.

Do I need a real estate agent?

Having an experienced agent gives you leverage in negotiations, access to off-market listings, and expert guidance. In most cases, the seller covers your agent's commission — so you don't pay extra.

What are closing costs?

Closing costs typically range from 2-5% of your purchase price and include title insurance, appraisal, credit report, loan origination fees, and more. Some costs may be negotiable.