Home Purchase - The Timeline

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Home Purchase - The Timeline

The timeline for closing a home purchase in Houston, or anywhere else, can vary based on several factors, including the specific circumstances of the sale, the type of loan you're using, and local laws and regulations. However, here's a general overview of the typical timeline for closing on a home purchase in Houston:

 

  1. Pre-Approval (1-3 weeks before house hunting):

 

Get pre-approved for a mortgage. This process can take a few days to a couple of weeks, depending on the lender and your financial situation.

 

  1. House Hunting (Timeline varies):

 

The length of time spent on house hunting can vary significantly based on personal preferences and market conditions. It might take a few weeks to several months to find the right property.

 

  1. Making an Offer (1-2 days):

 

Once you find a suitable property, your real estate agent will help you draft and submit an offer to the seller. This can take a day or two.

 

  1. Negotiation and Acceptance (1-2 weeks):

 

Negotiations on the price and terms of the sale can take a week or more, depending on how quickly both parties can come to an agreement.

 

  1. Escrow and Due Diligence (2-4 weeks):

 

After the offer is accepted, the property enters escrow. During this period, various inspections and assessments are conducted. This process can take 2-4 weeks.

 

  1. Loan Processing (2-4 weeks):

 

While inspections are taking place, your mortgage goes through the underwriting process. This involves verifying your financial information. It can take 2-4 weeks, but the timeline varies based on the lender’s workload and your application.

 

  1. Closing Disclosure (CD) and Review (3 days before closing):

 

You will receive the Closing Disclosure at least three business days before your scheduled closing date. Review this document carefully, as it outlines the final loan terms and closing costs.




  1. Closing Day (1 day):

 

On the closing day, you'll sign all the necessary paperwork, including the mortgage documents and the transfer of the property. This typically takes a few hours.

 

  1. Recording and Funding (1-2 days after closing):

 

After you've signed all the documents, the sale is recorded with the county, and the funds are transferred to the seller. This usually takes a day or two after closing.\

 

Please note that this timeline is a general guideline and can vary based on individual circumstances, negotiations, and unforeseen issues that might arise during the process. It's essential to work closely with your real estate agent, lender, and other professionals involved in the transaction to ensure a smooth closing process.

 

Contact us here at Revilo Real Estate and we’ll make sure that you’ll have a smooth and pleasant experience whether you’re buying or selling a property!


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