You just got off the phone with your Realtor, “They just accepted your offer, Congratulations!” Are you ready to move in?? Not quite. This is just the beginning…
Most folks have to finance their home purchase, so lets stick to that Time Line. Assuming you are fully qualified, and have done your homework, then you’re ready to start crossing things off of your 30-day checklist.
Here is your 30-day Checklist:
Days 1-5: Schedule the home inspection and appraisal
Days 6-10: Review seller(s) disclosures, inspection reports, and all disclosure reports including HOA documents & lender HOA cert(s) for your loan.
Days 10-15: All repair request(s) should be addressed and agreed upon, appraisal should be finished (did it appraise for value, were there conditions?) as well as your termite report. This is your time to decide, “Do we move forward?”
Days 16-17: After you have reviewed this all, it’s the big sign off period of your transaction. You have decided to move forward, and your initial deposit now becomes a portion of your down payment.
Days 18-25: Your lender is in the final process, the last portion on your transaction. That means it’s time for loan documents and a lot of them – Get your signing hand ready! This can be done in your escrow office, lenders office, or you can have a mobile notary meet you at a remote location.
Days 26-30: Your final amount of down payment is wired to Escrow, you are doing your final walk through to verify property condition, and you will fund and record the home on title into your name. On this day the home is yours, CONGRATS!
This is a generic timeline; all is subject to change depending on your purchase agreement. It is all in there, and your Realtor will assist you in a buyer’s consultation in order to help you understand this PRIOR to making an offer.
If you need any further questions answered, “Better Call Paul.”
You can reach me anytime at (949) 954-0148.
