Vol. 07 | Timeline of buying a home

So, you find the house of your dreams... and you put in an offer. Now what? The agent will present your offer and any other offers to their seller. The seller will respond to you within the time frame that you wrote into your offer; 24-hours, 12-hours, 5pm... whenever it may be. So congrats you were accepted! Now, you’ll go through whatever contingencies your offer may have. Your inspection will take place within 3-5 days of your offer acceptance. You’ll get your inspection report the day of your inspection and you’ll respond to the seller the next day or two with your response to the results and negotiating may then begin. You also have to make sure you’ve applied for a loan within a certain time frame, usually a few days to a week so make sure the minute offer is accepted that you get working on the paperwork and talking with the bank. Each market is different but next up would be signing of the purchase and sale which takes over from the offer. The attorneys involved with each party works together to write this then agents involved will help execute the signing, buyers sign first... This is when you’ll also have to hand over a check for your p&s deposit. Everyone will then be anxiously awaiting the arrival of your mortgage commitment day which is when the bank executes a letter saying the commit to giving you a loan. An appraisal will happen sometime between your application and commitment, you don’t have to do anything for this. You get your commitment letter and next stop is the closing table!