1. Hiring Your Buyer Team
Your Realtor: Discuss your wants and needs and what to expect throughout the process. Ask any questions about the home buying process. After you decide to move forward, you will hire your Realtor by signing the exclusive buyer agency agreement.
Your Lender: Realtor will help you select an excellent lender who will guide you through the mortgage process.
2. Get Pre-Approval Letter (1 Day)
3. The Search (Varies)
4. We found the House
A. Writing an offer (1 Day)
B. Initial response from the seller (1 Day)
C. Negotiations (Counter-Offer) (2 Days)
5. You got the House!! (30 Days to 60 Days)
6. Inspections
7. Purchase and Sale Agreement
A. Loan Application
B. Home Appraisal
Your lender will order an independent appraisal. The appraiser will conduct the inspection and issue the appraisal report. The entire appraisal process usually takes 14 days.
8. Final Walkthrough (1-2 Hours)
To make sure the house is still in the same condition as when you decided to buy it. Any repair agreement that was made between the seller and the buyer are to be done by now.
9. Settlement
All documents are signed. You legally own the property once the transferring documents are recorded with the Registry of Deeds.
Every real estate transaction is different. You need an experienced Realtor and lender to guide you through the process.