There are a few steps to buying a home. Use this checklist to make sure you know the whole process. Please send me an email and let me know what you think: Beto@CallBeto.com
Phase 1 – Introduction (1-2 days)
- Sit down with your REALTOR
- Identify your needs and wants (dream a little)
- Contact lender to secure your pre-approval
- Taxes – two years
- Bank statements- two months
- Pay stubs- two months
Phase 2 – Pre-Contract (1-30 days)
- Begin the home search
- Identify your home
- Visit and get a feel for the home
- Review comparable sales in the area with your agent
- Present the offer
- Iron out any outstanding details
Phase 3 – Inspection Period and Attorney Review (5-10 days)
- Agree to terms; secure signed documents
- Deliver initial earnest money
- Send contract to pertinent parties
- Attend home inspection
- Review inspection report with agent
- Follow up with attorney to address outstanding items
- Review condo/home documents with attorney
- Attorney sends out a modification letter or closes out the review period
Phase 4 – Financing (5-30 days)
- Send any outstanding documents to the lender
- Lender orders appraisal
- Lender collects remainder of condo association/home documents
- Lender sends loan to underwriting
- “Clear to close”
Phase 5 – Closing (3-7 days)
- Set up utilities in your name; Coordinate move
- Lender sends closing disclosure 3+ business days before close
- Final walkthrough one hour before closing or the night before
- Address any issues from walkthrough if necessary
- Closing day!