Real estate FAQ
Clear answers before the next step.
Quick answers to common questions about buying, selling, leasing and working with a Texas real estate agent.
Buying
Common buyer questions.
Do I need an agreement before touring homes?
Yes. Texas requires a written agreement with a license holder before a prospective buyer tours residential property. If no property will be shown, the agreement is required before an offer is presented on the buyer's behalf. It should explain the services, duration, representation and compensation.
Is broker compensation set by law?
No. Broker compensation is negotiable and should be clearly addressed in the written agreement.
Is preapproval the same as final loan approval?
No. Preapproval is a starting point. Your lender still has to verify your finances and the property before final approval.
Should I get an inspection on new construction?
A new home can still have items worth reviewing. Getting an inspection is your choice. An independent inspection can help identify conditions that deserve attention before closing.
Selling
Common seller questions.
How do we decide on a listing price?
We look at relevant sales, active competition, property condition, location, features and your goals. A CMA is a market analysis. It is not an appraisal or a guaranteed sale price.
Do I have to renovate before selling?
No. Some homes benefit from a few targeted updates. Others make more sense to sell as-is. The right choice depends on cost, timing, condition and what buyers are likely to expect.
Should I compare offers by price alone?
No. Financing, option terms, concessions, closing date, contingencies and your estimated seller net can all matter.
What is IABS?
IABS stands for Information About Brokerage Services. The notice explains the roles of brokers and sales agents, their minimum duties, intermediary relationships and non-representation. It is informational. It is not a representation agreement.