Page 32 - Kinney Realty Relocation Sponsor Booklet_Neat

Frequently Asked
What to Know When Questions

Buying a Home

Q: How long does the home buying process take?
The most frequent question I get asked is "How Does This All
Work"? Here is your easy step by step process to buying a home. A: The buyer and seller agree to a move-in/closing date on the
contract. There are many factors involved in the time a home can
close. Are you paying with cash? Great! If the house is unoccupied
1) Interview different lenders to find the lender for you. Not all this can speed up the process. Many times lenders need at MINIMUM
lenders are created equal, just as not all Realtors are created 3-4 weeks to process the loan. Inspections, re-inspections, appraisals
equal. Find one who is easy to get in contact with, willing to and mortgage processing are what take time. The average time in
help, KNOWLEDGEABLE and who gives you the best rate. our market to close on a home is 4-5 weeks. If you are needing to be
in a home by October 1st the contract needs to be finalized no later
2) Get a Pre APPROVAL letter from your lender. The housing
market is RED HOT right now and you don't want to lose out on than August 15. Consider this when looking for homes.
the home you want because you have to wait around for your
pre-approval letter from your lender. Q: When will I get the keys?
3) Make sure you know where you want to live. Drive the A: You will not get the keys in your hand until the FUNDING has gone
neighborhood, say hello to the neighbors, drive from your home through. In some cases it may be the same day but don't count on it.
to work/work to home in RUSH HOUR to see how long it will Many times the funding takes 24-48 hours to process.
actually take you to get where you need to be.

4) Work with me to go over your offer and contract. I will always
make sure you know the ins and outs of what you're signing. Q: How many properties should I look at?
Knowledge is power. A: As a professional I can tell you to pick out your TOP 5 and you will

5) OFFER ACCEPTED! Congratulations! Now according to your most likely choose one of those. I have never encountered a buyer
contract we schedule inspections. who bought a home NOT on their top 5. Looking at 20 different
homes will do you no good and will be exhausting.
6) As your Realtor I am doing a lot behind the scenes at this
point and your lender may be asking you to find a lot of
paperwork. This is the most stressful part. Q: When should I make an offer?

A: Immediately. When you find the home you want consider this: If
you sleep on it, someone else will be soon sleeping in it.