Frequently asked questions
Common questions about buying and selling in Houston. Don't see yours? Ask Ron directly.
How much do I need for a down payment?
Often less than you'd think. Many first-time buyers put down far less than 20%. Some loan programs allow around 3.5%, and Texas has down-payment assistance programs worth asking about. A lender can tell you what you qualify for.
What are closing costs?
Closing costs are the fees paid to finalize your purchase: lender fees, title, and prepaid items like taxes and insurance. They typically run a few percent of the purchase price, on top of your down payment.
What's the difference between pre-qualification and pre-approval?
Pre-qualification is a quick, informal estimate. Pre-approval is a lender's written commitment based on a real review of your income, credit, and debts. It carries weight with sellers and tells you your true budget. Get pre-approved before making offers.
How long does buying a home take?
It varies, but once you are under contract, closing often takes around 30 to 45 days. Finding the right home can take anywhere from a few days to a few months.
Do I pay my real estate agent as a buyer?
Agent compensation is negotiable and is spelled out in your written agreement before you start touring homes. Ron will explain exactly how it works for your situation up front, no surprises.
Why are property taxes so high in Houston?
Texas has no state income tax, so local governments rely more on property taxes. That means taxes are a meaningful part of your monthly payment, so budget for them, not just the price of the home.
Do I need flood insurance in Houston?
It depends on the home's flood zone and your lender. Flood risk is an important consideration in Houston, so always check a property's flood history and FEMA flood zone. If the home is in a higher-risk zone, a lender will likely require flood insurance, which affects your monthly cost.
What's my home worth if I want to sell?
The best estimate comes from recent sales of comparable homes nearby. Use the free home-valuation request and Ron will prepare a personalized estimate based on your neighborhood.
Should I sell my home myself (FSBO)?
You can, but selling on your own means handling pricing, marketing, showings, negotiation, and Texas disclosure paperwork yourself, and homes sold without an agent often net less. Many owners who start out FSBO end up working with an agent. Ron is happy to give you a free valuation and honest advice with no obligation, even if you are just weighing your options.