Quick post on this.
If you decided today to buy a new home, you could close in as little as 30 days or as many as 60 days.
Most people will need about 12 weeks, if they are focused on it.
Here are some of the steps:
1) Day One, Week One: Sign up for access to our local Multiple Listing Service (MLS). This way, you can search through all the listings of properties currently on the market. You will also get once-daily emails of new properties at they come on the market. A great way to see what’s out there.
Also, approach a lender to get pre-approved.
2) Week Two: Go with your real estate agent (me) to a bunch of Sunday Open Houses, to see a lot of properties at once. This will give you an overview of what’s out there in your price range in the neighborhood(s) you are interested in. You won’t necessarily see the home of your dreams right away; at this point you are gathering information and becoming an educated buyer.
3) Weeks Two-Six: Figure out whether or not you are going to be able to find a new home fitting your criteria in the neighborhood(s) you like. Re-assess.
Once you’ve determined where you want to look, start seeing individual properties (with your real estate agent (me)) that more closely fit your criteria. At this point, you are looking at properties that you may be interested in buying.
4) Week Six-Eight: Find the home you love. Make offer. Have it accepted. You must have a pre-approval letter when you make your offer. It’s expected and highly desired by sellers.
5) After offer is accepted: Schedule a home inspection to find out any problems, renegotiate purchase price if it’s something major. Schedule loan appraisal to make sure the bank will give you the money you need to purchase.
6) Four weeks later: Close on purchase.
Figuring out when you will close can sometimes be a dance between you and the seller. You may be in a lease, or you may be selling your own home and have obligations. Meanwhile, the seller has to find a place to live. Usually, a suitable date is found that pleases (or displeases) both buyer and seller.
The time it will take you to find your dream house is the unknown, of course. If you don’t have a time limit, you could search three weeks or three months. Most of my buyers, however, are looking to move now, so they choose from what’s currently on the market.
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Contact me to find out more about Boston condos for sale or to set up an appointment call/text 617-595-3712.
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For more information please contact one of our on-call agents at 617-595-3712.
Updated: 1st Q 2018
