Buying a Home in Texas Is a Process. Here’s What It Entails & How Long It Usually Takes.
Whether you’re buying or selling a home, you’re probably eager to make the perfect deal and complete the transaction. Whether that happens and how long that takes depends on several factors, some of which are in your control and others which aren’t. If you know what to expect at every phase of the home buying or selling process, however, you can set the stage for a smooth, efficient deal. You can also minimize delays, saving time and money as you buy or sell your next home. 5 Phases of Buying a Home in Texas
The timeframes listed below for each stage are general and will vary with changing market conditions, individual circumstances, and more. 1. Shopping for a Lender & Getting a Preapproval1 Day to 2 Weeks
Different lenders can offer different deals, and you’ll need to send over various paperwork as part of the preapproval process. Once you do, it usually takes a couple of days for a given lender to determine whether you qualify for a preapproval. If you’re truly intent on getting the best deal or if you have very unique circumstances and need a special program, it can take more time to find the right lender and secure a preapproval. Even if this phase does take a bit more time upfront, however, it can save a lot of time later when you find the house you want to buy. 2. Shopping for a Home1 Week to 6+ Months
Going through listings and touring houses can take time, no matter what area you’re looking in or what type of home you want to buy. There’s no telling when buyers will find the right home for them, but those who are serious about making a purchase can generally find something to suit their needs, budget, and preferences within about six months, as long as there’s a decent selection of available inventory. 3. Making an Offer3 to 5 Days
Crafting an offer is more than just throwing out a price. It takes time to put together a proper offer for serious consideration. Buyers who face competition may need more time to be extra careful and creative in crafting their offers. 4. Finalizing the Purchase Contract3 to 30 Days
Once a buyer and seller come to an agreement about the price and sale of a home, there’s usually some back and forth with the contract. Both parties will need time to carefully go over all terms, and if any are missing or are incorrect, the contract will need to be revised and reviewed again. This is another phase of the homebuying process when taking a little more time to get things exactly right can save an exceptional amount of time, money, and stress in the future. 5. Closing40 to 90 Days
Home inspections, appraisals, title searches, finalizing the mortgage loan, and more all happen during the closing phase. In some cases, there may be special conditions for closing, like requirements to complete it within shorter timeframes. How to Streamline the Homebuying & Home Selling Process in Texas
If you’re serious about expediting the home buying and selling process in Texas, being prepared and planning ahead can do a lot to help you. So can the experienced Realtors® at New Home Gurus. Once you find your dream home, our Realtors® can guide you at every step of the process that follows. That means helping you craft the perfect offers, supporting and advising you through negotiations, and guiding you through closing. And that’s not all—once you close on your new home, we’ll split our commission with you! Homebuyers who work with New Home Gurus can get back an average of $4,500 to $12,000 at closing. How Much Cash Can You Get after Closing?
Call (281) 668-8124 or Email Us to Find Out Now We are standing by, ready to answer your questions and explain the details of our commission-sharing program.