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Inspections take place during the option period—a negotiable time frame during which a buyer can inspect a home, amend a contract for relevant repairs or cancel a deal—and are often sought before one-year warranties expire. INITIATING AN INSPECTION
INSPECTIONS
COMPILED BY BEN THOMPSON
One key piece of the process to buy a home is having it inspected. Community Impact spoke with the Texas Real Estate Commission and Joey O’Brien, the owner of Austin- based Inspect It, to lay out the details of the inspection process. The inspection involves a professional canvassing of a new or existing home to ensure it’s up to various building and safety standards. WHAT'S A HOME INSPECTION? Texas does not mandate that home inspections take place, but lenders may require an inspection before a purchase to secure nancing. ARE HOME INSPECTIONS REQUIRED? Professional real estate inspectors are state certi ed, trained and quali ed to inspect homes for both buyers and sellers during a real estate transaction. WHO ARE HOME INSPECTORS?
Final negotiations and closing, or ending option
Agent helps their client searching for a new home
After nding a home, client submits an o er and signs a purchase contract
During the option period, the buyer or seller may schedule an inspection*
*UTILITIES TURNED ON PRIOR TO THE INSPECTION
FINDING AN INSPECTOR
The TREC lists all licensed inspectors, including details on education and disciplinary history, at www.trec.texas.gov.
Real estate agents can con rm licenses and provide a list of preferred inspectors. Friends and family can also provide recommendations based on past experience.
WHAT DO TEXAS REAL ESTATE PROFESSIONALS DO?
HAVING ISSUES?
Sales agents: handle property transactions for clients on behalf of a broker
Brokers: manage all activities of a real estate o ce, overseeing agents
Appraisers: estimate property values
Inspectors: inspect real estate
Consumers may le complaints with the TREC within four years of an incident. Complaints must be written, and the commission has a stock form available to use at www.trec.texas.gov .
SOURCES: INSPECT IT AUSTIN, TEXAS REAL ESTATE COMMISSION COMMUNITY IMPACT
Home For All Sales Event
FLEX CASH
Use Our Money, Your Way
1 2 3 4 5 6
Purchase Price Reduction* $0 Closing Costs $0 Down Move-In Long Term Rate Locks Early Lease Termination Interest Rate Buydown 10 Year Interest Rate Buydown on 10/6 ARM
$ 19K Get 4% inFlex Cash on Most Homes in 1 of 6 Ways (with full price offer) As much as
New Homes $ 2 5 0s - $ 500s+ HomeWithBrohn.com | 512-580-8199
© 2023 CMG Financial, all rights reserved. CMG Financial is a registered trade name of CMG Mortgage Inc., NMLS #1820 in most, but not all states.CMG Mortgage, Inc. dba CMG Home Loans, NMLS# 1820, is an equal housing lender. Registered Mortgage Banker with the Texas Department of Savings and Mortgage Lending. To verify our complete list of state licenses, please visit www.cmgfi.com/corporate/ licensing and www.nmlsconsumeraccess.org. All loans subject to credit approval. The rates shown above are for educational purposes only, not a commitment to lend, please contact LO to see your qualified rate. This incentive only valid on spec homes in select communities that are contracted on or after 1/6/23 and close by the end of May, and finance with CMG Financial. Adjustable-rate loans and rates are subject to change during the loan term. That change can increase or decrease your monthly payment. The rates shown above are the current rates for the purchase of a single- family primary residence based on a 45 day lock period, 740 credit score and 80% LTV. These rates are not guaranteed and are subject to change. This is not a credit decision or a commitment to lend. Your rate will depend on various factors including loan product, loan size, credit profile, property value, geographic ocation, occupancy and other factors. Offer is for a limited time only and can be stopped at any time and with no prior notice. Offers only valid when financing through Brohn’s lender partner, CMG Financial. Please see a Brohn Homes Sales Consultant for complete details. Offer may not be available with all programs in all states. All figures are estimates and subject to change at any time. The information here is provided as a general guide to help you determine if a property may be viable for you. Rates, APR’s & programs are illustrations subject to change at any time. These do not constitute a ‘Loan or Good Faith Estimate’ for payments and closing costs. Everyone’s situation is different and it’s best to be preapproved for a range of potential prices, payments or loan programs. The flex cash amount is contingent on the price of the home and only valid on participating homes and in participating communities. Speak to a Brohn Homes Sales Consultant for details on participating homes and participating communities. If using flex cash to reduce the price of the home, the reduction cannot bring the home price below base price. The flex cash can only be used in one of the six ways shown in this advertisement, including reduction in purchase price (not being less than base price of home) or applying towards closing costs, move-in costs, or early lease termination, or long term rate locks or buying down the interest rate on a 10/6 Arm (specific interest rate and associated APR fluctuate on a daily basis and change due to individual situations). A 30 year loan would result in 360 monthly payments. A 20 year loan would result in 240 monthly payments, and a 15 year loan would result in 180 monthly payments. This is a limited time incentive program that can be stopped at any time and with no prior notice. Must provide proof of current lease agreement, documentation confirming an early lease termination, the execution of a contract with Brohn Homes on a Brohn home that is set to close during the limited time frame in which the incentive is offered. The Brohn Group, LLC (DBA Brohn Homes) reserves the right to make changes to pricing, floor plans, specifications, features, materials, dimensions, and incentives without prior notice. Stated dimensions and square footages are approximate and should not be used as representation of the home’s precise or actual size. Copyright 2023 Clayton Properties Group, Inc. DBA in Texas as Brohn Homes.
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