Home Buying in Dallas>Question Details

Corey Woolley, Other/Just Looking in Richardson, TX

How close to a desired move-in date do you generally recommend that someone start speaking with a realtor and touring homes?

Asked by Corey Woolley, Richardson, TX Thu Feb 20, 2014

I have been doing a lot of online searching to feel out price ranges, locations, and school districts, have saved up for about a 25% down payment, and have already calculated out the bills I should expect based on the monthly mortgage payments, estimated utility bills, taxes, and insurance. However, my rent isn't up until the end of September and I would like to reduce the amount of overlap as much as possible so I am not paying double living expenses. How close to a desired move-in date do you generally recommend that someone start speaking with a realtor and touring homes?

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Answers

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Zane Ponsetti’s answer
At least 3 months ahead of your desired move date. However, in this market quality homes are being sold within a couple days, and they aren't coming on the market that often. Dallas is experiencing the lowest inventory maybe ever. While Zillow and Trulia are FANTASTIC tools for buyers and sellers they lag in one huge aspect. That is they don't show whether a property is in option period or contingent period. You will need an agent that will look for you a home EVERYDAY. And they will need to be doing that 3-4 months ahead of your desired move date. If you want your dream home I would recommend allowing for a couple months of overlap if need be. This is an aggressive market, and you will need a full time committed agent.
0 votes Thank Flag Link Tue Mar 25, 2014
Corey,

This is a great question!! I would recommend finding a great Realtor and discuss exactly what you are looking for. This will help with the decision making. If your needs fit the homes that are common in the area you are looking, then that will change the time frame. However, if you are looking for a certain, rare, type of home - then you may need to start earlier. There are many options when it comes time to find the right home for you. I would love to assist. If you need anything at all please contact me anytime!
2 votes Thank Flag Link Tue Mar 4, 2014
Hi Corey. I've just dealt with exactly what you describe, so maybe you can benefit from my experience. I contacted a realtor and started looking at houses 6 months before my lease expired. I felt it might be a little hard to find the right house and I preferred to swallow some overlap rather than be caught homeless (not literally, but I have kids that need to be enrolled in school somewhere). So, I felt that 6 months was erring on the long side. After making offers on 3 different houses, I finally got a contract 4.5 months before my lease expiration. I set my closing date for 6 weeks after the contract was signed. So, if you did the math, you know I have 3 months of overlap. I'm not too happy about that and will try to sublease. Obviously, you have to consider the housing market you are in. In my area, houses are selling for 100% of list price and going within 1-14 days. If I had known that, I would have waited a little longer, maybe 1 month more, before starting with a realtor. Overall, I have no regrets. Buying a house is not easy, and it's something you do only a few times. You should expect it to be a rocky. Accept that you will spend a good bit of your "fix-up-the new-house" money on your old rent. If it works out better than that for you, then celebrate!
2 votes Thank Flag Link Mon Mar 3, 2014
Talking to a realtor in the area you are searching in, will help with the time calculation. If you are looking to move in September, you would need to close in early to med September. You should not have a mortgage payment till October, generally 30 days after closing. I don't think searching 9 to 6 months on line is to early, I would think no later than 4 to 5 months for viewing the properties in person, to insure enough time to complete a closing by desired date.
Sandy Sutton
2 votes Thank Flag Link Sun Mar 2, 2014
Corey, Sounds as though you are doing everything right and thinking and planning ahead. Start talking with your REALTOR now, and with a mortgage professional, too. Early July is a good time to start touring seriously, in order to close in September. Gail Bevill, Broker, League City, Texas77573
1 vote Thank Flag Link Sun Mar 2, 2014
Hi Corey, Congrats on your decision on moving up! Your question is frequently asked. You don't want to start looking any sooner than 60 days prior to your lease expiration. I'd hate for you to start looking sooner and fall in love with a home that wouldn't work for you financially due to the overlap. The DFW region is the fastest growing region. Therefore, if you start searching now and find a home you desire if you don't act rapidly, the home could slip right under your fingers. Don't torture your self by looking any sooner.

I'd love to assist you in finding a place to call home. Best wishes!
1 vote Thank Flag Link Sun Mar 2, 2014
I would suggest meeting with a few different realtors about four months ahead of your move, then you decide which one you feel most comfortable with. After you've made that decision, then just sit down with that realtor and discuss your plans and time frame. A good realtor will guide you through with little or no problems.
I have moved across the country multiple times, a good trustworthy realtor makes a big difference.
1 vote Thank Flag Link Sun Mar 2, 2014
Hello Corey,
I agree with below answer that it is never too soon. The more time I have to work with you and advise you on "tweaks" or modifications that we can make on your credit, assets, the better the loan terms that I can usually obtain for my clients. I always offer a specific plan in writing for them to follow to put them in the most advantageous situation. (and any other experienced, customer service oriented lender should do this as well I would think)

I'm available to help you at your convenience if you wish.

I can do a full underwriting approval ahead of time if need be and I also offer credit score improvement programs for free while we work on your mortgage.

If you like my answer above, consider clicking on a “Thumbs Up” or “Best Answer”

Regards,

Robert L. Hanson
Gladewater National Bank
First Time Homebuyer Specialist

Direct: 240-752-7549 Cell: 301-651-7822
Email: robertlh66@verizon.net
NMLS# 695929

Rate quote or live chat with me at the link below:

http://www.loansfromrob.com/quote/
1 vote Thank Flag Link Fri Feb 21, 2014
I say about 3 months out.
Get qualified for a loan today.
Just to see if there is anything you need to do to get a better interest rate.
Maybe improved credit score or pay down debt.
0 votes Thank Flag Link Mon Mar 24, 2014
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
Corey,
The question of the "overlap" has come up -- this is often an issue -- whether when Clients are buying or even just switching Rentals. I don't know what your monthly Rental is -- but if it's, for example, $2000/mo., I think you should assume at least one month's "overlap" -- this allows you to do any pre-move-in tasks (painting, floors re-sanded, etc). Also, sometimes Closings get delayed -- when Buyers try to time it to closely (aiming for zero "over-lap"), it can turn into a stressful situation where Buyers have to find a hotel and/or put their furniture in storage.
Things may work differently in NJ (than TX), but this can happen and typically the Buyers are not compensated if the Closing Date slips out (we use attorneys for real estate Closings here). If you have flexibility (and no kids, pets to also consider and nearby friends w/ a couch) you can time things more closely -- otherwise, I suggest a 30-day cushion.
Best wishes on your move.
Marilyn Holda-Fleck
Prudential NJ Properties
0 votes Thank Flag Link Tue Mar 4, 2014
A seasoned agent can help you determine the best timing for your situation. YOUR agent is the best resource for ALL questions related ti the investment AND the move, from lender referrals to utilities info.
0 votes Thank Flag Link Mon Mar 3, 2014
Once you have decided you would like to purchase a home you should go ahead and meet with a local real estate agent who is familiar with the area. The agent can advise you about types of loans available and refer you to local lenders who can get you pre-qualified for your loan so when you do start looking you will have a document in had approved by a lender that will be very well received by the sellers and their agent upon presentation of a contract. Loans can be approved early on but you don't want to lock in the interest rate until you have found a property you want to buy. If you don't already have an agent, start meeting with them and asking them questions about how they can help you as a buyer and especially how they will be paid. You may decide you want to interview more than one agent to find one you will want to work with.
0 votes Thank Flag Link Mon Mar 3, 2014
If you get pre-qualified so there are no surprise credit issues that pop up, you can generally expect a move-in date 30 to 60 days after your offer is accepted. Have you considered subletting your place and moving sooner to take advantage of the low interest rates? Good Luck!
0 votes Thank Flag Link Mon Mar 3, 2014
You are a client that is so ready to go, that the only true job of the Realtor you choose is to let you in the homes you want to see and to go to battle for you when it comes to negotiation. Don't underestimate the value of that. Plus it's of no cost to you.
0 votes Thank Flag Link Mon Mar 3, 2014
Corey,
Every community is different, but finding a new home starts out the same everywhere - with finding neighborhoods you like. An agent can give you a list of the homes available in your price range now, and that will give you a way to drive through the neighborhoods where those homes are located. The list will change weekly, as new properties come to the market. If you take time to drive through those neighborhoods in the next couple months, you'll start to feel good as you "connect" with some of them! Once you've driven through all of the areas that are options, you'll find yourself narrowing the list to your "favorites". Depending on the absorbtion rate of those areas, your agent can tell you when to start looking seriously. If a typical sale occurs 60 days after contract date in your area, you'll know when you need to be under contract in order to move during your last rental month, giving yourself time to paint or replace carpet or whatever else needs to be done to prepare the house for your move-in date. Good luck!
Susan
0 votes Thank Flag Link Mon Mar 3, 2014
Wow Corey, you've received great answers from the real estate community around the country! I am in the DFW area and would like the opportunity to assist you.

You are already ahead of the process by doing your research and have your financials in order. There are questions that we would go over together if you were to choose me as your agent. What financing options to consider, have you met with a lender, do you want a re-sale home or new construction? These are just a few questions we would discuss.

To answer your question on when would be a good time to begin speaking with a Realtor and touring homes, it depends on what your expectations are. Do you need ample time to review properties or do you know what community you are focusing on? Homes that are placed on the market in our current inventory are under contract quickly.

Call me or text me at 214-282-2945, or email me at bernadine@kw.com if you have any other questions.

Bernadine Eberle, Keller Williams Realty.
0 votes Thank Flag Link Mon Mar 3, 2014
Hi Corey,
In the Sacramento, CA area, I advise my clients to meet with me as soon as they know they want to make a move. I will discuss a timeline with my clients that is appropriate for their unique situation. By contacting a real estate agent as soon as you can, the whole process will be easier and more comfortable for you. It sounds like you have done a lot of preliminary legwork, now is the time to meet with an agent and get the rest of your steps laid out.
Best Wishes,
Sharon
0 votes Thank Flag Link Mon Mar 3, 2014
Corey,
I would suggest that you start to speak with local Realtors now -- for a variety of reasons. First, you want to be sure that your expectations are in synch with the realities of your local marketplace. After viewing some homes in your target price range, you want to confirm that your budget will buy what you had expected and then, if needed, you can adjust accordingly (more down payment money, different neighborhood, etc).

Also, you'll want to see how the Agent you've selected works with you -- you may be a great match from the start, but, again, you may decide you need to select another Agent whose work style you better 'click' with.

I encourage you to be up-front with the Agent -- telling him/her that your Lease expires in September -- this helps the Agent to set the right pace -- "checking out neighborhoods", "exploring different home styles", "comparing different price points", "fixer-upper vs. move-in condition", etc.

Best of luck in your home search.

Marilyn Holda-Fleck
Prudential NJ Propertues
0 votes Thank Flag Link Mon Mar 3, 2014
Every market is different but May or June is probably not too early to start looking. You should ask your Realtor to check the inventory of neighborhoods you like. You might see that their are only 1 or 2 months of inventory in popular neighborhoods. If that is the case you can bet that you will be in competition for the cute, clean well priced houses. Many times these homes see bidding wars.
Once you know if you will have competition (other ready buyers) for they homes you want…. then talk to your rental company and look over your lease. Their is usually some sort of penalty for breaking the lease. Know what that number will be. Or you might be able to pay a higher rent and switch your lease to a month to month lease.

Once you know these options you will be prepared to start looking. You can easily do the math and see if you find a home you really like you will be ready to jump on it. And don't worry about paying overlapping rent. It may be cheaper to pay 2 months of extra rent than to be in a bidding war and pay $5000 over on a house just to get it because the timing seems right. Have your agent start showing you properties. This will give you an idea of how easy or hard it is going to be to find your first place.
0 votes Thank Flag Link Mon Mar 3, 2014
Nowadays, most of my clients tour or preview homes online for months before really getting serious! But it's different to cruise online by yourself than having an agent to talk to about the trends that the market is moving, and the right time to have the least competition! Most real estate has a seasonal component, and if you start talking to agents you can find out when might be the best time to get the best prices, and also consider interest rates moving up! Also selling prices are very different from list prices, and that's another reason to work with an agent asap!
0 votes Thank Flag Link Sun Mar 2, 2014
Corey,

You should really start the process with a Loan Officer to get a pre-approval done soon and give yourself enough time for a home search and getting the mortgage application completed. Especially now that the market is competitive between buyers I would recommend giving yourself at least 60 days for the home search and 30 days for the mortgage processing.

John Lyng
Mortgage Counselor - NMLS 280951
JLyng@naca.com
0 votes Thank Flag Link Sun Mar 2, 2014
I'm in Dallas too. I suggest you start interviewing agents 90 days prior. The best time to start touring homes really depends on what you are looking for.

Best place to start is to hire an Exclusive Buyer Agent. EBAs only work with homebuyers and there is never a conflict of interest that will jeopardize your negotiating position.

I am the owner/broker of one of Dallas' oldest and most successful Exclusive Buyer Agencies, HelpUBuy America. We charge a flat-fee for our services, so our fee is the same regardless of whether you buy a $150,000 home or a $500,000 home. This eliminates the conflict of interest that exists when you an agent is paid a commission based on the sales price of the home.

We've been protecting the rights of first-time homebuyers since 1995, and we'd love to assist you. I've also had a book published on Amazon called Buying a Home: Don't Let Them Make a Monkey Out of You. It'll teach you how to buy a home without getting ripped off.

Let me know if we can help.
Best of luck!

Alysse Musgrave
214-734-3863
Alysse@HelpUBuyAmerica.com
http://www.helpubuyamerica.com
0 votes Thank Flag Link Sun Mar 2, 2014
I live in MI and will be moving to FL within the year. I have taking the 40 hrs already and just need to pass my Stateboard Exam. Should I still get my license in MI or should I wait to move to FL. If I get my license in MI will I have to work as a real estate agent for a couple years before moving? Please give me wise ideas and what FL rules are

Thank you so much
0 votes Thank Flag Link Sun Mar 2, 2014
I'm happy to have buyers make an appointment for a meeting as soon as they know they intend to buy in the area.
I'd like to hear from them at least 6 months to 1 year out. That way we can be sure they are on the right track,
Often, first time homebuyers over estimate the difficulty of buying and miss oportunitues that would save them time and money, and get them in a home sooner than they realized.
0 votes Thank Flag Link Sun Mar 2, 2014
Also, depending on your loan type, for example an FHA loan, When you close Mid. September you skip Oct. and your first mortgage payment is not due until Nov. 1st. Bonnie
0 votes Thank Flag Link Sun Mar 2, 2014
With your lease up the end of Sept. you may want to close about mid. Sept. leaving yourself time to move out. So you would want to be under contract no later than Mid. August. For a standard 30 day close. Be sure to check with your lender in July how long closings are taking for your area. So about the earliest you would want to start looking at home is mid July. You could start talking to your realtor now to get the plan set. I hope this helps, Bonnie

Bonnie White
Broker/CNE
RE/MAX of Spokane
509-869-1869
0 votes Thank Flag Link Sun Mar 2, 2014
If u are getting a mortgage use the estimated processing time and estimated close date. Also would be good to use when your lease is up and if they will let u do a month to month after it is up.
0 votes Thank Flag Link Sun Mar 2, 2014
Hi Corey,

It's good you are planning ahead. I would imagine that you have been doing some searching online. Which is a good way to get an idea of what you would want in a home. I would suggest that you pay close attention to the prices of homes in the area or areas that you are interested in to make sure those areas offer what you want for your budget. As I am sure you have heard it is a very strong Seller's Market right now and it looks like it will stay that way for 2014. Nobody likes to pay for 2 places but, if the perfect house comes up on the Market I would suggest that you entertain the idea of doing so for a short time. In the past I would have suggested that you start looking in July and I would find you a house in one weekend. That is not the market we are in now. I would suggest that you start looking in May and perhaps the Seller may want to Leaseback the house from you for a short time. If not be prepared to pay double or wait a bit longer and go on a Month to Month lease where you are now. Hope this helps.

Just trying to keep it real!

Jean Pasvar, Realtor
William Davis Realty
214-402-6619
jeanpasvar@gmail.com
http://www.jeanpasvar.com
0 votes Thank Flag Link Sun Mar 2, 2014
Interview about 3 agents in early June. See who each recommends for financing your purchase. Check out the lenders. If anyone promises something that sounds too good to be true, move onto the next party immediately. Get the financing issues resolved prior to even your start to tour potential purchases. At most a good loan officer should take 6 weeks to get the appraisal and underwriting completed. Start looking by the second week of July that gives you about a month to determine area and pricing. Make you offer in early August and your dates should dovetail pretty well. Good luck and Have FUN!!
0 votes Thank Flag Link Sun Mar 2, 2014
I feel 90 days should give ample time unless you have special needs or requirements for your new place. However if you should decide you are interested in a short sale property, you might need 5 to 6 months.
0 votes Thank Flag Link Sun Mar 2, 2014
In short sales the Realtors , buyer and seller have absolutely no control maybe some influence if the listing agent has worked with that lender previously. I recommend first time home buyers stay away from short sales unless they are living with their relatives. Too iffy for any certainty.
Flag Sun Mar 2, 2014
There are some great answers below. But, one thing they skipped (I think) is going to be very personal to you.

How many homes will you have to see before you decide you have found the right one?

And, how long will it take you to make a decision?

Add that time to anything like loan processing.
0 votes Thank Flag Link Sun Mar 2, 2014
Great question, Corey!

Because we can provide you with much more professional advice and assistance than just opening doors and touring homes, I suggest you determine and ENGAGE YOUR REALTOR as SOON as you are really serious about buying a home -- even 6 months or a year in advance!

While you may not be touring homes that entire time, The MartySellsHouses.Com team likes to really get to know the needs of our clients and -- as former educators -- we also have the knowledge and tools to help you determine and assess NEIGHBORHOODS and SCHOOLS . . . beyond what you can find online yourself.

FIRST, you also need to get PRE-QUALIFIED for a loan EARLY. Home sellers and REALTORS want to work with pre-qualified buyers. Shop at least three lenders including your personal bank or credit union, and several mortgage banks and brokers. You want to find the lender that will provide you with not only a competitive interest rate but also reasonable closing costs . . . and great SERVICE. Nothing messes up the home buying process more than working with a lender who doesn't have their act together! If you need lender referrals, your REALTOR can share those with you.

AFTER THAT, the length of TIME involved in the actual HOME PURCHASE PROCESS varies depending on your TYPE OF FINANCING. When borrowing, Conventional loans with 20% down take the shortest amount of time to process and close; FHA and VA loans take the longest. Cash deals can be closed within days of an executed contract.

Here's a BREAKDOWN of the TYPICAL home buying PROCESS (when you have NO CURRENT HOME to sell . . . which is a whole different ballgame!):
--Loan PREAPPROVAL (48 hours to several months, depending upon your employment, credit and cash situation) -- Do this first, to determine how much you can really afford, accumulate down payment, and clean up any credit issues.
--SEARCHING for homes (online. . . perhaps months prior) -- Once you are serious, this could take a couple of weeks to a couple of months, depending on how specific you are and the availability of homes in your targeted area. (This is another reason to engage your REALTOR early, they can advise you about this related to your specific area and needs.)
--Offer, negotiation and CONTRACT execution process (2 days to a week) -- Remember: this cannot occur unless you are preapproved for financing.
--Option period for inspections – Negotiable, but most often 10 days.
--FINANCING contingency period -- 25-30 days from contract execution date (this is where great lender service makes a difference!)
--CLOSING -- 31- 45 days from contract execution date (depending upon type of financing)
--POSSESSION -- Upon funding (generally within hours or the next day after closing)

Based on these typical timeframes, I suggest you ENGAGE your REALTOR at least TWO MONTHS ahead of time . . . but EARLIER than this to MAXIMIZE your SERVICE.
0 votes Thank Flag Link Sun Mar 2, 2014
I agree 6 months isnt to early to get started. For me its because I moved to Florida from Indiana and I want to get an idea what the market is like here. I have cash so the finacing isn't something to consider but it is hard to find a realtor to call back. They all seem to be working other jobs and doing real estate part time. I'm in Orlando Florida. Realtor in my region you can email me at ogmichelle45@gmail.com
Flag Sun Mar 2, 2014
Timing is more about finding the property that you fall in love with, and works with your budget, location, and for your family.

Then it comes down to the type of loan needed for that property, and how its listed for sale, normal sale, short sale, foreclosure. as there later ones need much more time for the selling bank to work the deal and to close on it...

Talk with a mortgage broker first find out what you qualify for and loan options that work best for you, then start looking! If you find a place you can get into before you lease is up, talk with your landlord now see what, and how they feel about your situation, and they maybe willing to work with you in breaking the lease on good terms and getting your deposit back too...

Its all doable, just a matter of how to do it and does it all work the way you 'd like... sometimes you have to be open minded and find ways to make it work.

Good luck!
0 votes Thank Flag Link Sun Mar 2, 2014
Great Feedback and Comments from all over the Country for Corey Woolley in Texas!!

Corey here is the difference it depends on your market as Texas is different that Atlanta, Chicago, or even Phoenix. All Real Estate is a local phenomena and changes from city to city or subdivisions to subdivision in a local market.

The time to find that perfect home depends on the available inventory (high or low), if it is Buyers or Sellers market (typical days on the market - 120 days would be a neutral market). So Corey the search could take a month or it may be extended by as much as 6 months in any given market condition. In Pheonix the last year we had 20% appreciation in the market with very low inventory where if you were in Cleveland that is a total different story.

The best advice is call or find a local Realtor who understands that local market and work closely to find the best deal at the best price otherwise you are throwing "Darts" at a target.....Good Luck and if you are looking in Phoenix give me call......
0 votes Thank Flag Link Sun Mar 2, 2014
REALTORDepends On What Price Range And Type Of Sale Option You Are Searching For. Ex: If You Wanted To Include Short Sale Properties Where Banks Are Involved Along With The Homeowner Because They Owe More Than Their Home Is Worth, You MBay Need 6 Months. When Buying Is Seriously On Your Mind At Least Sit Down And Talk With A Licensed Realtor To Get Answers And Then Set Your TimerLine Based On What You Learn.
0 votes Thank Flag Link Sun Mar 2, 2014
I do not think you can stat to early. Even if you are not ready to move, it is smart to start learning the market. Seeing homes in person is much better than on line. Looking on line gives one an ides, but houses seen in person will tell you if you really want to live there. I tell my clients to start at least 3 months ahead. Going to open houses, having a realtor send you properties that match your criteria, and watching neighborhoods that interest you. Best of Luck !
Stephen Brescia
Re/MAX Leading Edge
Santa Rosa, Ca
707 291 7073
0 votes Thank Flag Link Sun Mar 2, 2014
I will suggest a total of no more than 3 months.
0 votes Thank Flag Link Sun Mar 2, 2014
I will recommend three months for the total process. Looking at different homes, preparing your offer, negotiating the terms and finally moving in.
0 votes Thank Flag Link Sun Mar 2, 2014
I would say the earlier the better. The market is so fluid. You would rather find the home you love in the location you love rather than nail down a specific move date. Just get with a Realtor early in the process and they can advise you every step of the way and get you where you want to be when it is convenient for you.
0 votes Thank Flag Link Thu Feb 27, 2014
It really depends on what type of buyer you are and even what kind of property that you go for.

If you want to see a lot of homes before making a decision, and if particular details can really turn you off to a home, I would say to allow about 3-4 months from the time you start looking to the time that you plan to close. I would say, at minimum, to allow for 8 weeks for the entire home-buying process. Given that your lease is up in September, you will probably want to start getting serious about searching as early as May, but you should be fine starting in June or July.

If you are shopping for foreclosed homes, it usually takes 60-90 days from the time your offer is accepted up to the day you finally close. Sometimes it's longer and sometimes it's shorter.

I would strongly recommend speaking with a Mortgage Loan Officer in the near future and get pre-qualified for your loan. It's very easy and they will help you calculate a monthly payment that is comfortable for you based on your financial information. I would also advise taking a look at your credit now and making sure to "clean up" anything that might prevent you from getting a better interest rate. I generally refer my clients to Patricia Mahoney at BB&T, email her at PMahoney@bbant.com and she can help you out!

If you have questions, feel free to call me any time! My number is 972-750-6900.
0 votes Thank Flag Link Thu Feb 27, 2014
Part of the answer depends on what kind of buyer you are.
If you need to see dozens and dozens and the least little thing wrong sours you on a house, then you'll have to allow that extra time on top of the normal 3-4 for looking and 3-4 weeks for closing after you found the right house.

But a couple of other things to keep in mind are that the house might need some repairs that are paid for out of your "renovation" mortgage loan. These 203(k) loans or similar take a few weeks longer to process and close, more like 6-8 weeks instead of 3-4, meaning you need at least 9-12 weeks.
Also, if you're buying new construction, you'll need to allow the full time to build, which could be as little as 3-4 weeks if they're only finishing out a spec-built home, or it could be 4-7 months to go from a graded lot to final walk-through.

If you don't have children, school is not an issue, but parents usually want to wait until school is in out to move out so you can move in.

So, if we take your timeline of end-September to move in, I'd suggest late July to start looking and find something by late August to move in late September.
0 votes Thank Flag Link Tue Feb 25, 2014
No later than 120 days!

Nancy Peralta, Realtor
Suzanne Cook & Co
903.241.6109
0 votes Thank Flag Link Mon Feb 24, 2014
Keep in mind that interest rate are most likely to increase between now and September. A good mortgage lender can help you evaluate the cost of waiting to close until your lease is up (when you won't be paying double living expenses) vs. closing a month earlier, and getting a good interest rate.

Also, your first mortgage payment will most likely be delayed a month from when you close, so you have a bit of breathing room.
0 votes Thank Flag Link Sat Feb 22, 2014
Corey, I recommend looking in June/july. It should not take more than 30 days with a good lender, and a lot of them are good with 4 weeks. Your first mortgage is usually the second month after you close. If you don't already have a realtor, I would be happy to help you. Feel free to call me and lets talk!

Liz Renfro
William Davis Realty
214-924-9676
0 votes Thank Flag Link Fri Feb 21, 2014
Lease expires in September recommend search by end of June it takes approx. 45 -60 days to close and anticipate several weeks secure your location, sales execution of the agreement and etc.

My website is updated daily therefore saves you time search accurate information

Allow my professional profile to introduce myself to you
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0 votes Thank Flag Link Fri Feb 21, 2014
Congratulations on the work you've already done, which is an excellent start. However, the first thing is to contact several loan officers re what you can afford. Give your self at least 3 months to look for your house, and you'd have to give at least 1 month notice to your apt complex or landlord and to close on the house. Good luck.
0 votes Thank Flag Link Fri Feb 21, 2014
Corey,

Typically it takes about a month to close on a home so you may want to start looking in late July or early August. Of course that also depends on whether you can only view properties during the weekends or you are available also during weekdays. Before looking for a home; however, I would suggest that you talk to a lender and get pre-approved for a loan so when the right home comes along you can make an offer right away. Plus, you need to find out that you are looking at homes that you can afford to purchase.

What city are you looking to purchase? Are you looking to purchase in Dallas or Dallas and its surrounding area?

Let me know if you need a lender or two; I'd be happy to assist you in finding your home as well. Feel free to call me at 469-371-2899 to discuss or you can check my website at http://www.dfwdreamhomes.net for the most updated info on homes currently on the market.

Susie Kay, Realtor®
GRI, CHMS, SFR
Residential/Commercial/Investment
English-Indonesian-Hokkien
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United Real Estate
III Lincoln Centre, 5430 LBJ Freeway #280
Dallas, TX 78240
469-371-2899
susie_k@att.net

http://www.dfwdreamhomes.net

Servicing your real estate need is my priority!
0 votes Thank Flag Link Fri Feb 21, 2014
Hi Corey,

My recommendation is 60 days minimum. It really isn't too soon now to start speaking to a lender and a Realtor. I work primarily with first time home buyers and will be happy to talk to you about your needs and desires in a home. Feel free to call, text, or email me any time and we can formulate a game plan for when you are ready to seriously look for a home.

Barbara Wilson
Realtor
StarCrest Realty
214-564-7579
bwilson228@gmail.com
0 votes Thank Flag Link Fri Feb 21, 2014
Corey, Before you start looking at homes you should talk with a lender to get pre-approved for a mortgage loan. A Realtor should be able to help you find a good lender. I would contact an agent to help you about 90 days in advance. It will take your lender 30 days to process your loan after you have a contract on a home (depending on the type of loan). This would give you 60 days to locate a home. Most seller only want to wait about 30-45 days to close a deal, so looking too far in advance will not help you. Your offer likely will be beat out by a buyer that can close earlier. In most areas homes are selling in under a week, so you will need to act fast when you find a home you want to purchase. Good luck and best wishes. I'd be happy to talk with you about representing you if you have not selected an agent.. Janet Nelson, Realtor (972-658-4401)

19 years of experience to serve you.
0 votes Thank Flag Link Fri Feb 21, 2014
Call me!!
I recommend at least 45 days.
Ana Nava
(214)492-9527
0 votes Thank Flag Link Fri Feb 21, 2014
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