Can I make an offer without a pre-approval letter?

The standard in New Braunfels in 2026 is approximately 1% of the purchase price. On a $450,000 home, that means $4,500. In a competitive multiple-offer situation, going to 1.5% or 2% signals seriousness without materially increasing your risk, since earnest money is returned to you at closing or if you terminate during the option period. Your agent should advise you on what is competitive given the specific property and market conditions.

The option period is a Texas-specific contractual window — typically 5 to 10 days — during which you have the unrestricted right to terminate the contract and recover your earnest money. You pay the seller a small, non-refundable option fee (usually $100 to $500) for this right. In competitive offers, a shorter option period can make your offer more attractive. In a slower market or on a property with known complexities, a longer period gives you more time to complete due diligence. Never waive the option period on a first home purchase.

It depends entirely on the specific property and its market conditions — there is no blanket answer. A fresh listing in Gruene or near the Comal River with significant showing activity may warrant an at-or-above-list offer. A home that has sat for 45 days with a price reduction has room to negotiate below list. Your agent should pull recent comparable sales and current market data for that specific neighborhood before advising on price. Making an offer based on what feels right rather than what the data supports is one of the most common buyer mistakes.

A seller leaseback allows the seller to remain in the home for a set period after closing, paying the buyer a daily rent (often calculated as your PITI — principal, interest, taxes, and insurance — divided by 30). It is most useful when the seller has not yet found their next home or is in transition. Offering a leaseback can make your offer meaningfully more attractive at no cost to you in terms of purchase price. The arrangement is documented in a Temporary Lease Agreement addendum to the TREC contract.