Buying your first home comes with a lot of new terms. Here’s the order things usually happen in, so you know what’s coming next.
1. Get your budget and credit in order
Look at what you’re comfortable spending each month, not just the price of the home. Your payment will usually include more than principal and interest, such as property taxes and homeowners insurance. The Consumer Financial Protection Bureau (CFPB) has free checklists for reviewing your credit report and spending.
2. Gather your paperwork and talk with lenders
Lenders will ask about your income, savings, and debts. Getting pre-approved before you tour homes tells you your price range and shows sellers you’re a serious buyer. See my guide on getting pre-qualified vs. pre-approved.
3. Choose your agent
In Texas, a real estate agent must give you the TREC Information About Brokerage Services notice at your first substantive conversation about a property. It explains who the agent represents and the ways an agent can work with you. Representation is set up in a written agreement with the broker.
4. Tour homes and make an offer
TREC calls its One to Four Family Residential Contract (Resale) its most frequently used contract form. Your offer sets the price, earnest money, option fee and option period, financing, title, and closing date. Everything is negotiable.
5. Earnest money and the option period
Under the TREC resale contract, the earnest money and option fee are due to the escrow agent (usually a title company) within 3 days after the effective date. During the option period you can end the contract for any reason. Learn more in What Is Earnest Money in Texas? and The Option Fee and Option Period.
6. Inspections
The contract lets you have the home inspected by inspectors you choose who are licensed by TREC or otherwise permitted by law. Plan inspections early so you can make decisions before the option period ends.
7. Your Loan Estimate and appraisal
After you apply for a mortgage, the lender must give you a Loan Estimate within three business days. The CFPB suggests requesting Loan Estimates from more than one lender so you can compare. Your lender will usually order an appraisal, and you have a right to a copy.
8. Closing
Your lender must give you a Closing Disclosure three business days before closing. Compare it to your Loan Estimate and ask about anything that changed. The Texas Department of Insurance recommends verifying any wiring instructions with your title agent before you send money.
9. After you move in
If the home is your principal residence, apply for the homestead exemption with your county appraisal district. See Property Taxes and the Homestead Exemption.
Have questions about buying or selling in DFW? Send me a message or call or text me at 602-214-3584. I’m happy to walk you through it.
Sources
- CFPB, Buying a house: tools and resources: consumerfinance.gov
- CFPB, What is a Loan Estimate?: consumerfinance.gov
- CFPB, Closing Disclosure explainer: consumerfinance.gov
- TREC, Information About Brokerage Services: trec.texas.gov
- TREC, One to Four Family Residential Contract (Resale), TREC No. 20-19: trec.texas.gov
- Texas Department of Insurance, wire fraud tips (title insurance page): tdi.texas.gov
- Texas Comptroller, Property Tax Exemptions: comptroller.texas.gov
- CFPB, Find a housing counselor (HUD-approved): consumerfinance.gov
Checked November 3, 2026.
General information only, not legal advice. Contract terms and local rules vary. Talk to a real estate attorney for legal questions about your situation.