At Burnett Real Estate Team, we are proud to count a number of first-time home buyers as our clients. A lot goes in to buying a home. While you’re juggling thoughts about how many bathrooms you want to have, where you’re going to come up with the cash for a down payment, and whether you want wood floors or carpet, you have to take into consideration how long purchasing a home takes.
Going to the realtor’s office, picking a home, and pulling the cash out of your wallet just isn’t an option for the majority of home buyers. However, while buying a home can be a much involved, lengthy process, that isn’t always the case.
The following are a few things that factor in to the length of time that buying a home can take.
The Search for a Realtor
If there’s one thing we know about, it’s how valuable having the right realtor in your corner can be. We’re probably biased, but we think this is one of the most important decisions in the entire home buying process.
A good realtor works with you to find a home that works for you on a personal as well as financial level. Search around, ask for recommendations from friends and family members. Meet with several prospective realtors and don’t be afraid to ask any questions you might have. Your realtor is the captain of your home buying team, so find one that works for you.
According to Zillow’s forum on mortgage preapproval, lenders should take no more than 24-48 hours to provide you with an answer on your pre-approval request—provided you have all of the proper documents on hand.
You’ll need information about your income, your credit history, and any other documents your chosen lender has requested. In the event that you don’t have this information on hand, it may take a couple of weeks to gather everything in order.
Depending on your preferences and desires, the actual home search can wind up being one of the lengthiest parts of the entire process. Your realtor will work with you to find a home that suits both your personality as well as your budget.
This can take anywhere from a few days to a few weeks, sometimes longer. Buying a home is an investment in your future, and finding the perfect one may take some time. Work with your realtor and find a home that fits you.
Provided the seller has accepted the offer you’ve made on the home; an inspection of the home is due to happen next. Pre-sale home inspections are exactly what they sound like: a certified home inspector looks over your prospective home. It is their job to make sure the house is fit for sale, and to note any problem areas, if any.
This is not normally a lengthy process, though it can stretch out if the inspector finds issue that need to be addressed before the sale. Assuming the inspector doesn’t notice any glaring issues, you will be free to close on your dream home.
Though every home-buying experience is different, the entire process generally takes 4 weeks, but can take longer if you are buying with a VA Loan or if you were buying a short sale other type of distressed property. This is a guideline and depending on a number of factors such as those listed above, your particular experience may be longer or shorter.
Thinking of buying a home in Bentonville? For an experience that is both friendly and professional, Contact Us today and let Burnett Real Estate Team help you find your dream home!