1. Verify Property Ownership:
Ensure that the seller is the legal owner of the property and has the authority to sell it.
2. Confirm Property Condition:
Assess the property's physical condition to identify any potential issues or repairs needed.
3. Review Appraisal Reports:
Examine the property's appraisal reports to determine its market value.
4. Title Search and Examination:
Conduct a thorough title search and examination to identify any liens or encumbrances on the property.
5. Evaluate Property Taxes:
Understand the property tax obligations and any outstanding taxes owed.
6. Assess Financing Options:
Explore various financing options available for the purchase.
7. Comprehend Insurance Requirements:
Understand the insurance requirements for the property and ensure adequate coverage.
8. Understand Escrow Procedures:
Familiarize yourself with the escrow process and the roles of each party involved.
9. Inspect Home Inspection Reports:
Review the results of a home inspection to identify any necessary repairs or safety concerns.
10. Comply with Disclosure Requirements:
Ensure that all required disclosures are made in accordance with Texas law.