If you're buying a house, you'll want to prepare as much as possible for your homebuying process timeline. While each sale is different, there are certain aspects of the process that can take time - long after the house hunting is finished.
The homebuying process takes a couple of months to a year, depending upon how much preparation you need to complete first. Generally, most people close their houses within 2-3 months.
A qualified real estate agent or broker who knows the neighborhood can provide insight into local housing conditions and pricing strategies. If you're not sure where to start in finding an agent, try asking loved ones and colleagues for recommendations.
It is important to have an agent who will act for your interests alone. Finding your dream home can be tough, but real estate agents have the knowledge and resources to make the process quicker and easier.
The mortgage process can take up a significant amount of time in your home buying timeline. Typically, the lender's loan processing department examines your mortgage application for approval and makes sure it contains the information required.
Eventually, applications will get verified by the underwriter. Underwriting agencies will check for any inconsistent credit information and property information.
The final stage in buying a house is known as the closing process. On the closing date, your real estate agent will help you gather all the paperwork necessary, including the closing disclosure, purchase agreement and tax information. You'll also need to pay your final closing costs at this time.
While the events of closing day can vary in terms of timeline, the more you prepare, the quicker it will go. The sooner you close, the sooner you can move into your new home and start enjoying life as a homeowner.
Prior to her 20 years in Real Estate, Jacquelyn worked as a Marketing and Advertising Manager for Fortune 500 companies such as Sun Microsystems, Charles Schwab, Robert Half International, and Del Monte Foods. She has handled up to $80 Million Dollars in global marketing budgets and worked with not just local but also national and global teams. It was during these 7 years in corporate marketing that she successfully developed her marketing and negotiating skills which she now effectively utilizes in helping her clients with their home transactions. This has resulted in numerous Top Producer awards and designations in the Real Estate industry for being a Seller and Buyer advocate in over 2 decades.