Home buying Timeline:
1. Get Pre-approved for a mortgage to help us figure out which homes we should be looking at and in what price range.
2. Start touring homes for sale to see what you like.
3. Make an offer on a home.
4. Once offer is accepted the buyer schedules their home inspection. (within 10 days of acceptance of offer)
5. After inspections you have 48 hours to make any repair requests, withdraw your offer or move forward.
6. Buyer formally applies for mortgage with their lender and pays for the appraisal to be ordered.
7. Buyer signs Purchase & Sales Agreement within 21 days of offer being accepted and gives 2nd deposit.
8. Loan is submitted to underwriting and once has approval we can schedule the closing.
9. We schedule a final walk through the day of closing to view the home and make sure everything is good and then you go off to closing!
10. Once purchase goes on record at registry you will be able to get the keys to your new home! Congratulations!
Home Buying Lingo