What you are supposed to do and when is one of the most confusing things about a home buying. It can be difficult to identify an exact timeframe for home buying because it can vary depending on the market. In general, you will require 3 to 4 months time to find a home
Three Months
Make a checklist of things or tasks that tasks to be completed in the home buying process. You need to include all the steps you need to take from educating yourself about the real estate transaction to shopping for the home to the closing in this checklist. The checklist will assist you as a guide throughout the home buying process.
It is better to get pre-approved for a mortgage. With this you can easily understand how much money you can afford for buying a home. Make sure that you are getting pre-approved and not pre-qualified.
Choose the best real estate agent who can assist you in your home buying. With the help of references from family and friends, you can find a reputable real estate agent that will have your best home buying interests at heart.
Start your search for your home. Come up with a list of things you require and want from a home. Your real estate agent will be able to help you in finding the home that fall within your criteria.
Two Months
Make an evaluation of the houses that are in your consideration. Work with your real estate agent to come up with a method to scorecard or analyze the houses that you are strongly interested in buying.
Determine the home you would like to buy. Make an offer to the seller on the home. It is wise for you to stop shopping around for homes once you make an offer. The worst thing that can happen is that you find a home you think you like better than the one you've made an offer on.
You need to get the home inspection completed after the seller has accepted your offer and you have signed the sales contract. It's time for you to make arrangements for the closing.
Six Weeks
Purchase homeowners insurance and provide proof of the policy to your lender. You should do this thing prior to closing. Make your arrangements for moving. If required, start the process for school transfers or registration.
Four Weeks
You need to alert the necessary parties of your change in address. By putting in a request at your local post office, you can also have your mail forwarded through the postal service.
Make the arrangements for utilities at your new home. You can simply put in a request to have your services transferred at a certain date if you will be working with the same providers.
Two Weeks
If you are having your items moved with the help of professionals verify the arrangements with your mover.
Check with your lender to finalize the mortgage for the home buying process.
Unless you have arranged a full pack and move with the mover, pack your belongings.
Closing Date
As a proof of identification bring your driver's license on the closing date. Your down payment is due at this time. Also bring any home buying closing costs that you are responsible for paying.
Remember that this is a common home buying timeline. Depending on how long it takes you to find a home, you can adjust the time as you like.
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