Page 8 - How To Buy A Home In Louisville

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Timeline for Buying a House

While there are no absolutes on a time frame for buying a home, there are some general guidelines that
can help with your overall planning. These time frames are based on our experiences in the Louisville
area market and could be different if you bought a house in another city. In the spring and summer, you
will need to move quickly in writing an offer so that you can get your first choice. The best homes sell the
fastest, sometimes within hours of coming on the market. In the fall and winter, you may have the luxury
of a bit more time to view homes before making a decision, as they are less likely to sell quickly.

2-4 months from moving-in date:
■ Develop a personal checklist including what you’re looking for in your new home, your budget, and other
details. Use this workbook to help define your goals.
■ Start the mortgage pre-approval process. A mortgage loan officer (also called a lending officer) helps you ap-
ply for the loan. The lender is the bank that loans you the money. You can go straight to a bank or go through
a mortgage broker who compares different banks across the country to find the best loan program to fit your
needs.
■ Hire an agent from the River Valley Group. Your agent will spend time with you listening to what you want
and your RVG agent will explain the homebuying process.
■ Begin your home search!—You can use our website, LouisvilleRVG.com, to search for available homes. It con-
nects to the entire MLS, a database of all homes for sale in Louisville no matter which real estate company
has it listed.

1-2 months from moving-in date:

■ See the houses in person. You and your RVG agent can set up appointments to view homes on your schedule.
■ Choose a home; one that “feels just right.”

30-45 days from moving-in date:

■ Make an offer on the house you like best! Your RVG agent will help you through the offer process, paragraph
by paragraph. When the offer is accepted, it becomes your purchase contract.
■ Choose home inspectors, have the home inspected within the time written in your offer, and then either A)
accept the house as it is B) ask the seller to make repairs, or C) cancel the contract. It is your responsibility to
call the home and termite inspectors, etc. Make sure you get the inspections done according to the number
of days in the contract. Inspections are not required by Kentucky law, but recommended (some lenders do
require inspections and appraisals).
■ Arrange homeowner’s insurance. Call an insurance agent immediately after the offer is accepted.
■ Call moving companies and make moving arrangements.
■ Monitor the mortgage process and give your documents to the lender as needed. Check with them once a
week to see what other documents they may need.
■ Arrange any school transfers/registrations.

The River Valley Realty Group - How to Buy a Home in Louisville, Kentucky 6