You can expect the process to take as short or as long as you need. I typically tell my buyers if they find the home they want it could typically take anywhere from 30-90 to close. That is usually something that is negotiated by the buyers and the sellers. So say you need to be somewhere in 30 days, you would put that in your offer. Also, the turn around time could really depend on the mortgage company that you use for the loan. I have had buyers turn around in 21 days and settle on a property with Mortgage Bank America. I have seen great results in getting this closed quickly if needed.
If you would like I can always send you over my 1st time buyer package that will give you information on buying your first home. I would just need your email address.
Feel free to contact me at http://www.mattdaleyrealestate.com or MDaley@CBPref.com or on my cell phone at 215-990-9132.
Have a great day!
It can take from 30 to 90 days on a typical residential sale. It can take 6 months or longer for Short Sales.
The first thing to do as a first time Buyer is to find a Lender for your financing needs.
Please contact me to get started, I know many qualified Mortgage Lenders.
Liberty Bell Real Estate Agents
Direct Phone: 215-237-4147
Find an agent you trust. Narrow certain area's that are important to you. If you can't decide a solid agent with experience will assist you in this process. Don't settle. This is a big step. It can be stressful and an emotional roller coaster. Once you figure out your budget and your time frame start your search.
Once you find you "Home", the process to actually getting the keys takes about 45-60 days. Mostly for the underwriting of your new mortgage, but some other things need to be taken care of, such as the home inspection, mortgage application, etc.
The first step is finding an agent that you like to work with and they can get you on the right path. Buyer agency in PA is a FREE service and it provides you with your representation in the deal - someone working for only you. I truly love working with first time home buyers and if you have any further questions, please feel free to contact me directly. Even if you choose not to work with me, I strongly recommend you working with a buyer agent.
I work with RE/MAX Ready in Conshohocken and I can be reached by email at BILL@BILLHOWLETT.COM or by cell 610-331-3257.
1. Meet with a Local Mortgage Banker to get prequalified for mortgage financing. The Mortgage Banker will review all facets of your loan request to answer your questions with regards to the types of loans and maximum loan amounts you could qualify for.
2. Get a referral to a good, local, real estate attorney. Call the attorney, retain the attorney so you have her information handy when you make an offer. Having that information at time of offer helps you demonstrate to the Seller how serious you are, and they will consider your offer with more interest.
3. Line up a Home Inspector. A good home inspector will scare the heck out of you: that's what you pay him for! But you'll concentrate on the fundamentals of the property: roof free of leaks, plumbing, heating and electrical up to code and in good working order. Again, when you make an offer and you have your Home Inspector ready to go, your offer will be considered with much more interest by a Seller because you truly have your "ducks in a row" and your preparation demonstrates your serious attitude about conducting the purchase transaction in a timely manner.
4. Find an experienced Local Realtor who works in your desired shopping area. A serious pro Realtor will refuse to show you homes until you are Prequalified for mortgage financing. Don't take offense! That Realtor doesn't want you to be disappointed and wants you to have a smooth experience as you shop for your new home.
Put together your Team of real estate professionals and shop 'til you drop!