Buyer's FAQs

 

What is it with the property taxes?

Texas does not have a state income tax.  It does however have property taxes.  The taxes vary by county but they all follow the same premise, that is, they are made up of various components that when totaled together make up the tax rate for any given home.  That’s why when someone asks “What are the taxes in Austin?”  You can’t answer the question.  It is very specific to address as even within a large neighborhood such as Avery Ranch, because the school district lines split the neighborhood, the taxes will vary. 

In order to understand how the taxes are calculated on any given property you
need to have a basic understanding of all of the various components that make
up the tax rate.   The components may include the following: City tax, county tax,School tax, Mud tax (if applicable), Emergency tax, water district. 


When you are considering several homes for purchase you can ask your realtor for an idea of what the taxes would be.  However when you have narrowed it down to a single home the only way to be absolutely sure of what the taxes are/will be is to call the Tax Appraisers office for the county  of purchase.   

For more information call the appropriate taxing entity.  Here are the websites for the counties we service.

Travis County          www.traviscad.org
Hays County           http://www.hayscad.com/Appraisal/PublicAccess/default.aspx
Williamson County   http://www.wcad.org/
Bastrop County       http://www.bastropcad.org/Appraisal/PublicAccess/  
Comal County         http://www.comalad.org/

 

What does FM, RR, CR, Mopac, mean on the road signs?

For those confused by our road signs, here's a quick lesson:  FM -Farm to Market;  (Keep in mind Texas was a wide open state with a lot of ranches and farms for most of its' history.) RR-Ranch Road,   CR-County Road, Mopac-I understand it was named because it runs parrellel to the Missouri Pacific Rail Road Tracks.

 

What is the first step in purchasing a home?

The first step is talking to a lender.  There is no sense in going out and looking at homes that you find you can't afford.  When you do find a home, you must have a letter from your lender stating that you have been either pre-approved for the loan, or at least pre-qualified.  If you need some recommendations, give us a ye  

How long does it take to purchase a home?

Well let's assume you found the house you want to purchase.  From contract to close (when you get the keys) usually we plan on 30 days.  If you are purchasing a foreclosure (especially if you are purchasing a Government owned foreclosure such as a HUD home or a VA) it will likely take longer more typically 6 weeks.  If it is a short sale, that is it is going into foreclosure, well in these cases it can really vary.  In some short sales you can wait 2-3 weeks to get an answer to your offer!  We have to ask a lot of questions in these cases and if getting into your new home soon is a priority, you may be wise to steer clear of these.