(Closed) What was your homebuying timeline–from deciding to look at houses to closing?

posted 5 years ago in Home
Post # 3
Member
13101 posts
Honey Beekeeper
  • Wedding: July 2010

We decided to start searching and found a realtor in mid-January.  We looked at homes online for a couple weeks before actually re-locating to the city we were going to buy in (had to move from TX to GA).  We arrived in GA in early February and started looking in person.  We closed on our home on March 30th.

So from start to finish, we were at about 2.5 months for everything.

Post # 4
Member
6598 posts
Bee Keeper
  • Wedding: August 2010

We decided on a Sunday that we should look at buying instead of renting (after giving notice at our current place). 

We signed on the dotted line on the following Wednesday!

I think our timeline was faster than most 😉

Post # 5
Member
5774 posts
Bee Keeper
  • Wedding: May 2011

It really depends on the inventory where you are looking. Finding a realtor/getting pre approved takes no time at all. We started seriously looking June 1, were outbid on a home, had an offer accepted in July, had a terrible inspection that led to us backing out, were outbid on 2 more homes and had an offer accepted in Sep. Right now we’re looking at closing on Dec 1.

Post # 6
Member
9237 posts
Buzzing Beekeeper
  • Wedding: August 2013 - Rocky Mountains USA

It probably took about 4 months total, which I think is fairly quick.  I spent the first month frantically doing research on the process (as a first time homebuyer) and getting a realtor.  Then we looked at houses for several months – we needed a specific location and a specific (low) price, so there weren’t a lot of options.  Then we found the perfect place that had only been on the market for 2 days, made a full price offer the next day, and it was accepted 3 days later.  It took about 5 weeks after that to close.  (The sellers didn’t leave for 2 days after closing, but that’s a whole nother story.)

Biggest piece of advice:  don’t get stressed out about how long it’s taking and settle!  This will be your HOME for a long time and you really need to find the right place.  Also, do your own research on the MLS listings and just be as involved as possible.

Post # 7
Member
4442 posts
Honey bee
  • Wedding: January 2013 - Harbourfront Grand Hall

We got engaged November 5 and pretty much immediately started looking.  I have a friend who’s a realtor so that wasn’t a problem, then we spent 2-3 weeks looking and through pure luck found our home!  We put in the bid the end of November with a requested closing date of December 31.

It was a push to make it happen Dec 31 because the sellers were from another state but our realtor made it happen.  The home inspection and everything in between putting in the bid and closing was VERY frustrating but we love our house today 🙂  So to answer your question.  It took us 2 months from searching to closing.

My brother took 3 months.

We were in a similar situation with our lease, you can always end it early or just take your time moving in.  Better to have extra time than not enough!

Good luck!

Post # 8
Member
524 posts
Busy bee
  • Wedding: June 2011

First I may say you need to get pre aprroved that way you arent looking at houses that you fall in love with and then can not afford. Hubby and I did a VA loan as he was in the army so we were lucky we didnt have to put a down payment ment down an we were approved for a good amount. So once we go approved we then knew what neigbhorhood we wanted and we wanted a single home. This is our home it has everything we wanted on our must have list. We make settlement Oct 31st. YAHHHHHH

We closed in 60 days, we were ready to move just needed the place

Do A must have list for you and hubby and things will work out, enjoy this process it is just a great as planning a wedding 

 

705 Carriage Circle Aston PA 19014 Home for sale - MLS #5944699

Post # 10
Member
13101 posts
Honey Beekeeper
  • Wedding: July 2010

@MM423:  See if they will let you go month to month instead of being commited to a lease.  Then there is no penalty when you are ready to move into a home and you don’t have to stress if the process takes longer than you expect.

Post # 12
Member
7312 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

January 1, 2011- Our previously agreed upon start time arrived, and Mr. LK and I jumped online to explore Realtor.com. We were pretty much horrified by what we saw in our price range (400K).

Mid January 2011- Met with a realtor recommended by a co-worker. He seemed nice enough. He gave us an overview of his services, the buying process, and the market in our target search area. Met with a lender recommended by said realtor. Got pre-approved within a day or two. Started looking at houses in person.

Late March 2011- Signed a 6 month buyer’s agent agreement with our realtor in order to put in an offer on a house. Went under contract.

Mid April 2011 (about 2 weeks after going under contract)- Canceled that contract based on inspection results

Mid-late April 2011- kept looking at houses. Disappointment after disappointment.

May 2011- Decided to take a break because we couldn’t stand the disappointment any more. Kept stalking the web and would go out to see a house if it looked really promising. None of them panned out. Signed a new 1 year lease on our place because they refused to let us do anything shorter. resigned ourselves to paying through the nose if we found a house and needed to break our lease.

Late October 2011- Wedding done, we decided to start over with a new realtor now that the old buyer’s agent contract had expired. Best decision we could have made for ourselves! Also increased our budget to “not a penny more than $500k” and switched target areas. Still not a lot on the market.

January 2012- Decide to explore other lenders, too. Meet with 3 new lenders, choose 2 to work with for the rest of the process. Another really good call. Competition on our loan saved us $200/month in interest payments. 

Mid February 2012- Contract on a short sale

Mid March 2012- Contract falls through

Mid March 2012- Contract on another short sale

Early May- Gave notice that we would not be renewing our lease because they insisted that we sign another 1 year lease. Realized we may be homeless in 2 months.

Mid May 2012- Contract falls through. Offer on another house that same day.

Mid June 2012- Finally close on our home. Moved in a week later and handed back the keys to our rental 2 weeks early because new tenants were eager to move in. Ended up getting 2 weeks of rent back from the leasing company. Win!

 

 

Post # 14
Member
2379 posts
Buzzing bee

Our situation was a little different because we weren’t serious for the first two months. But:

Late June: started going to open houses every week, just getting an idea for when we would buy in the spring

Mid August: decided we wanted to buy now. Contacted a realtor and a mortgage broker

Late August: Looked at houses with the realtor, got pre-qualified for a mortgage

Early Sept: Put an offer on our favorite house (saw it back in June). Accepted the counter offer and got pre-approved.

Mid-Oct: We close on the house on Oct. 19

 

Post # 15
Member
7312 posts
Busy Beekeeper
  • Wedding: October 2011 - Bed & Breakfast

@MM423:  But your process could go super fast, too. It can work both ways. Have you looked at what is available in your desired price range and your desired location? Do you like what you are seeing?

We were disappointed from the get-go because $400k seems like so much money to us, but it really isn’t all that much in our expensive county. If I was spending that much money, I wanted a house that I loved, gosh darnit! And even upping our budget to $500k wasn’t all that helpful because the mean sales price in our desired area is around $675k, and the mode is around $750k.

 So if you are the “poor” people trying to buy into the “rich” people area and you have at least a few standards about what you will/will not spend money on, it’s going to be a long process. But if your budget and standards are pretty typical for your desired area, you should have enough housing stock to choose from that it shouldn’t take you too terribly long. Oh, and don’t look at short sales if you are worried about running out of time. While they can be a great deal, they can also suck up a huge amount of your time and you have a low likelihood of closing the deal in the end.

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