REAL TipS: BUYING

Beware assumptions

When is it safe to make an assumption about some aspect of a real estate transaction? If you want the transaction to close (and with minimum hassle), your answer should be never.

However, during the course of buying a property, you will have many opportunities to make assumptions that seem safe. For example, you might surmise that a house that appears to be in great shape has no problems. That great-looking house has a cracked slab, though, or a chimney problem, termite damage, or some other potentially expensive (yet not obvious) defect? Even new homes often have problems that only an expert would likely detect. Making an incorrect assumption to try to save a few hundred dollars on a professional inspection could cost you thousands.

You may also be inclined to assume that some facet of the transaction will be OK even though you don’t quite understand it. After all, the title company or mortgage broker or some other professional is handling those details. That’s true, but although you are dealing with professionals, you should understand every step of the process on your way to ownership. If not, ask questions until you do. Your Texas REALTOR® can be an invaluable resource in making sure every detail is handled properly, every deadline met, so your transactions proceeds as smoothly as possible.

Texas Association of Realtors®