Indianapolis Home Buying Tips and Timelines
Indianapolis home buying tips and timelines will give you today’s best market guidelines to purchasing your next home. In addition, I will outline the expected timelines for each step of the purchase process.
Important Tips
When home buying in the Indianapolis Greater Metro Area the best tips to not cut corners are as follows:
- Interview 2 to 3 Realtors that work full-time in real estate
- Ask for referrals or their website testimonials
- Make certain they will respond quickly to your needs
- Ask for online alerts to the MIBOR property database
- Work with a local mortgage representative and get pre-qualified
- Obtain a survey before closing
- Get a home inspection immediately after your offer is accepted
- Understand your out of pocket cash needed for your purchase
Further information is available at Indianapolis home buying tips and timelines.
Timelines
Your Indianapolis home buying timelines are important to follow and need to be closely monitored by you and your Realtor. The most common timelines are as follows:
- Earnest money (your deposit) should be submitted within 24 hours after acceptance of the purchase agreement and definitely within 48 hours
- Making a formal mortgage application should be completed within 3 business days
- Neighborhood homeowner association covenants should be received by you from the seller within 7 days after acceptance of the agreement
- Homeowners insurance should be obtained by you from a local insurance company within 7 days after acceptance of the agreement
- Your home inspection should be completed within 7 days after acceptance of the agreement
- If your home inspection reveals problems, you should submit an inspection response to the seller within 10 days after acceptance
- Your final mortgage approval should be approved within 21 days after you have submitted your formal mortgage application
These important Indianapolis home buying tips and timelines are only part of the buying process. For a complete, professional and free buyer’s consultation, please contact Carmel-based Realtor Jeff Cloyd at either 317-753-1398 or at jeffcloyd@remax.net. He will guide you through the Indianapolis home buying tips and timelines.
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