The Home Buying Timeline
• What's an Inspection?
• When is the appraisal?
• Do I have to be pre-approved?
• What's an Inspection? • When is the appraisal? • Do I have to be pre-approved?
Pre-Approval
This is the very first step every hopeful new homeowner should take! Get pre-approved with a lender to find out exactly how much cash you’ll need to bring to closing and your approval amount.
Buyer consultation with REALTOR
Not every real estate agent takes time to educate their clients first. Our team sees this step as essential. Your consultation will include market education, a step by step breakdown of the process, and a lot time for Q&A! You will leave the meeting ready to conquer our market.
Home Search
Your home search should start with our local MLS, Realtracs. This is the site agents are directly posting listings on. Every other site is just waiting for information from our MLS. Your real estate agent will set you up on a search! If you work with my team, we will also be networking for off-market opportunities within our company.
Showings
This is your HGTV moment, y’all!!
Offers
After you see a home you love, you will likely need to submit an offer that day. DON’T PANIC! Your agent will help guide you on the best terms to offer. A great agent will give your their best advice, and then support whatever decision you make. Everything will be signed and sent digitally these days.
Negotiations
This is where the real estate agent you select matters most. You need someone who is skilled enough to help you win the home without offering more than you have to. Formal negotiations will happen on additional contract documents called “Counter Offers”.
Under Contract
Eventually, you will find a home you love and secure a contract. We promise! From this point until closing, the home is reserved for you. No one else can buy it unless it falls out of contract. Closing will likely be about 30 days from your “under contract” date.
Inspections
The inspection period usually occurs within the first 7 days of the contract. This is one of the most stressful times for buyers, but your trusted real estate advisor will help you navigate it all!
Appraisal
Appraisals are ordered by your lender to make sure the home is worth what they are lending you. These are subjective opinions, but your agent can make an educated guess on the results before you even make an offer on the home.
Clear to close approval from lender!
Within 3 days of closing day, you should get this news from your lender! It means everything has been approved and they are preparing final steps for your closing day.
Final walk-through
Right before closing day you will see the home one more time to confirm it’s in the same condition and any required repairs have been made.
Closing Day
In our world, this day is just one big happy dance. You will sign somewhere between 20 and 2000 documents. Who’s really counting? YOU’RE BUYING A HOUSE!!!!!
HOMEOWNER!!!
At closing you should receive your house keys! As soon as both sides have signed and funds have transferred to the seller the place is all yours. We don’t recommend trying to move in that day, but it’s the perfect “pizza on the living room floor” kind of night to celebrate and let it all sink in.
