If you're buying a house, you'll want to prepare as much as possible for your homebuying process timeline. While each sale is different, there are certain aspects of the process that can take time - long after the house hunting is finished.
The homebuying process takes a couple of months to a year, depending upon how much preparation you need to complete first. Generally, most people close their houses within 2-3 months.
A qualified real estate agent or broker who knows the neighborhood can provide insight into local housing conditions and pricing strategies. If you're not sure where to start in finding an agent, try asking loved ones and colleagues for recommendations.
It is important to have an agent who will act for your interests alone. Finding your dream home can be tough, but real estate agents have the knowledge and resources to make the process quicker and easier.
The mortgage process can take up a significant amount of time in your home buying timeline. Typically, the lender's loan processing department examines your mortgage application for approval and makes sure it contains the information required.
Eventually, applications will get verified by the underwriter. Underwriting agencies will check for any inconsistent credit information and property information.
The final stage in buying a house is known as the closing process. On the closing date, your real estate agent will help you gather all the paperwork necessary, including the closing disclosure, purchase agreement and tax information. You'll also need to pay your final closing costs at this time.
While the events of closing day can vary in terms of timeline, the more you prepare, the quicker it will go. The sooner you close, the sooner you can move into your new home and start enjoying life as a homeowner.
Terese Ferrara is a long-time resident of the Bay Area and has been a partner with The Goss Real Estate Group for many years. She and her husband raised their two daughters in San Jose, where she successfully continues to build her real estate career.
After earning a bachelor’s degree from San Jose State University, she went on to teach in the San Jose Unified School District for 9 years. Transitioning to real estate was a logical choice, utilizing her patient demeanor to educate all levels of buyers and sellers. Knowledge and experience demonstrate her vested interest in delivering the highest level of care and professionalism to every client. She consistently strives to exceed her client’s expectations throughout the entire real estate transaction and remains a trusted advisor long after each close.
As a board member on KW Bay Area Estates’ Associate Leadership Council (ALC), she aids in support of culture and professional development strategies for over 180 associates. Terese is also a Director for the Santa Clara County Association of Realtors Foundation, which supports community service initiatives in Silicon Valley.
Terese is the consummate real estate professional dedicated to providing unparalleled service to her clients through ongoing training and education, keeping her on top of the dynamic market and latest real estate trends. Her high-touch approach coupled with honesty and integrity support her commitment to her client’s real estate needs.
