Our overview of the home buying process will help you mentally prepare. Each step refers to another Fearless Homebuyer Lesson which will fill in the details for you.
City Trends Realty Step by Step Home Buying Process
Day 1 Meet with your Buyer’s Agent to discuss your plans.
Day 2 Consult with your Mortgage Pro and get Preapproval.
Day 3 Select the right mortgage.
Day 4 Determine your needs and wants.
Days 5-30 View & evaluate available homes.
Day 31 Select a home and write an offer.
Days 32-33 Negotiate price & terms.
Day 34 Congratulations, your offer is accepted!
Day 35 Contact your Mortgage Professional with a copy of the sale agreement.
Days 39-40 Have inspections.
Days 41-44 Negotiate to have seller make repairs found in inspections.
Days 41-44 Closing & Title activities are coordinated.
Day 45 An appraisal is ordered by your Mortgage Professional.
Day 47 You’ll need to order Homeowners Insurance, also called Hazard Insurance, or Fire Insurance.
Day 55 Review completed repairs.
Day 56 Remove contingencies.
Day 58 Sign loan and closing documents.
Day 59 Documents are reviewed for final loan approval.
Day 60 Transaction is closed & you own the home.
Day 60-62 You get possession of your new home!
*Although 60 days is doable, it may take you more or less time to find a home and to go through the whole closing process. Don’t worry if you look for homes for several months to become comfortable with what homes are available. Real estate often has more than one word for things so you may hear varying names for various steps in the home buying process. Keep the place you’re in for at least a week after your proposed close date in case there are closing delays.