What are the steps (and timeline) for purchasing a house?
1. Make an offer.
2. Offer accepted
3. Open an Escrow account
4. Make a deposit
6. Applying for a home loan (mortgage).
7. Close the Escrow.
…..What else? (Please modify the list based on the timeline and anything else that I have missed.)
Well there are a few things that you might want to include nothing major just a few things here you go. First step is the biggest step and most important.
1- Get pre-qualified for a loan.
2- Talk to a Realtor to show you houses.
3- Make and offer
4. Offer accepted
5. Open Escrow
7- Do home inspection. (right after opening escrow)
8- Ask for a copy of termite inspection.
9- Ask for copy of all Seller’s Disclosure and approve them
8- Review home inspection and ask for repairs
9- By this point you are probably about 15 to 17 days after acceptance. Make sure you lender already has the unconditional loan approval and knows you are good to go.
10- Once you know you are approved, have seller do termite work.
11- 5 Days Prior to close of escrow you will do a “Final Walk Through” to make sure your house is in the same or better conditions as when you wrote the offer and that all of the agreed repairs have been done.
12- Loan will be funded (closed)
13- Next day the title will be recorded. (escrow is closed)
14- Usually, seller has 3 days to vacate the house.
15- Move into your home.
16- Don’t forget to change the utilities under your name.
Good luck if you have any questions just let me know.
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