Timeline for Buying
Your Home Courtesy of The Madden Team
To begin, give The Madden Team a call and get pre-approved for a mortgage. In order to keep you on track for this Timeline for Buying Your Home we have qualified mortgage advisors that we could recommend for you, if needed. This timeline for buying your home represents approximately 60 days. The time periods shown on this chart are fairly typical but may differ in your situation, depending on various needs and negotiations between Buyer and Seller.
DAY ONE - Offer submitted with $1,000 personal check
DAY TWO - Offer accepted; hire a home inspector
DAY 7-10 - Home Inspection completed
DAY 10 - Hire an attorney to look at the Purchase and Sale Agreement
DAY 10-14 - Sign Purchase and Sale Agreement with additional 5%-10% deposit
DAY 16 - Submit completed mortgage application
DAY 28-35 - Lender issues mortgage commitment
1 WEEK BEFORE CLOSING - Obtain home insurance binder for closing
DAY BEFORE CLOSING - Final walk-through
DAY 40-60 - Pass papers at closing (1-2 hours)
Check back for a slightly more indepth explanation of the different stages of The Home Buying Process: Pre-Approval, The Offer, The Inspections, The Purchase and Sale Agreement and The Closing
To begin, give The Madden Team a call and get pre-approved for a mortgage. In order to keep you on track for this Timeline for Buying Your Home we have qualified mortgage advisors that we could recommend for you, if needed. This timeline for buying your home represents approximately 60 days. The time periods shown on this chart are fairly typical but may differ in your situation, depending on various needs and negotiations between Buyer and Seller.
DAY ONE - Offer submitted with $1,000 personal check
DAY TWO - Offer accepted; hire a home inspector
DAY 7-10 - Home Inspection completed
DAY 10 - Hire an attorney to look at the Purchase and Sale Agreement
DAY 10-14 - Sign Purchase and Sale Agreement with additional 5%-10% deposit
DAY 16 - Submit completed mortgage application
DAY 28-35 - Lender issues mortgage commitment
1 WEEK BEFORE CLOSING - Obtain home insurance binder for closing
DAY BEFORE CLOSING - Final walk-through
DAY 40-60 - Pass papers at closing (1-2 hours)
Check back for a slightly more indepth explanation of the different stages of The Home Buying Process: Pre-Approval, The Offer, The Inspections, The Purchase and Sale Agreement and The Closing
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