Post # 1
Dh and I plan to buy a house this year. We have already spoken with a mortgage guy and are pretty much ready to start looking (Down payment, closing costs and Pre-approval all set). The issue is that we are signed into our apartment until December 31 2011. We both work retail so we would ideally like to be moved into our new house the second week of November which would put us in the house before Black Friday/The day after Thanksgiving and still give us time to come back to the apartment to paint.
So my questions are:
1. When should we start actively start looking at houses?
2. How long did it take you to find a house?
3. How long does closing take?
Thank you so much in advance! We need all the help we can get.
Post # 3
It took us about 6 months to find our house, but it’s different for everyone. My sister bought the first house she looked at, and I have a friend who looked for about 4 years before finding the right one. Our closing took about 6 weeks after our initial offer, but that was because of a delay on the seller’s end. We had everything approved and were ready to close about three weeks after our offer was accepted.
Post # 4
It tooks us about 2 months to find the house, and 60 days to close. But I have friends who spent a year looking, and other friends who found their house and closed in a little over a month. So it all depends.
If you are doing a short sale or forclosure then all bets are off. It could take forever
Post # 5
I think you can start actively looking right away. It took us about 5 months to find a place we wanted, and then 3 weeks to close. It is common to take up to 2 months to close too. Good luck!!!
Post # 6
- Wedding: October 2011 - Bed & Breakfast
I don’t think that there is a magic time to start. If you have absolutely no clue what you do/do not want, it may be smart to begin attending open houses and browsing online listings sometime in the next few months. This will help you learn each other’s preferences and how much those preferences may cost you. Once you have a somewhat soecific sense of your wants and needs, you need to find a good buyers agent to guide you through the process. Ask friends and family for references, and then start interviewing to find someone with whom you click. Our agent told us to allow 4-6 months for active huning ($$ lined up, REA settled on, and going out for showings) and completing the purchase. It’s been almost 3 months so far, and we are still a little over a month from closing, so our agent’s timeline was spot-on for us.