I live in an apartment and want to know how far in advance I should start the process to coordinate with the end of my lease.
2006-06-08 23:47:19 · 8 answers · asked by Chad 7 in Business & Finance ➔ Renting & Real Estate
Talk with a REALTOR in your area. They will be able to tell you what the market is like. If you're in a strong Buyer's market there will be lots of houses for you to look at and you will be able to find a home faster. If you're in a strong Seller's market you'll need more time. The agent will be able to guide you through the process and help you know what to expect.
2006-06-09 00:30:13 · answer #1 · answered by mycornerofbrickheaven 3 · 5⤊ 0⤋
If you haven't already found a home to buy, it might take months before you find a house you like and that you can afford.
Once you find a house and put in an offer, you should know within a day or two if your offer has been accepted by the seller. Then it's just a matter of applying for a mortgage. (Use a mortgage broker to get the best rates.) If you have all the documents submitted in time, your mortgage should be ready and closing can be scheduled in about 4 weeks. (It can take less time, and it could take more.)
One other thing to consider is the possession date, or when the seller has to be out of the house, and you can move in. There are different customs in different parts of the country. For example, around here, it is customary for the seller to move out 30 days after closing. In other areas, the buyer gets possession of the house at closing. This is something that you will write into your contract when you make an offer on the house.
Most definitely use a realtor when you buy a house. They can advise you on the different aspects of home buying. I'd suggest that your realtor be a buyer's agent so that you have someone on your side. Don't tell your realtor the maximum you are willing to offer on a home, especially if you aren't using a buyer's agent. They are required to disclose that information to the seller, and it could end up costing you more for the house.
2006-06-09 07:00:20 · answer #2 · answered by Mama Pastafarian 7 · 0⤊ 0⤋
I just bought a home. From our first meeting with a realtor to the closing was about 5 weeks. This time period included looking at about 30 houses, choosing one, getting in a contract (with 2 counter-offers), inspection, appraisal, title search, securing a mortgage, and finally closing. The process is a long, drawn out, frustrating headache, but definately worth it when its over.
2006-06-09 11:25:57 · answer #3 · answered by Tax Man 2 · 0⤊ 0⤋
Purchasing a home means that you are investing a great deal of money for the house. You should be very careful while buying a house. Like; you should check the house (Physical check) thoroughly just to make sure you are not fooled. You should also seek advise from friends and elders and associates who has purchased a house.
2006-06-09 06:53:07 · answer #4 · answered by nimesh 4 · 0⤊ 0⤋
you cannot fix that this will be the time period for me to fetch a good house. If you are planning to end your lease, fetch a good home and when you are about to register your new home inform the end of your lease. Meanwhile you can make modifications to your new home if any before you move
2006-06-09 06:55:41 · answer #5 · answered by risha 2 · 0⤊ 0⤋
If you found the home you want...allow yourself at least 45 days
2006-06-09 13:32:00 · answer #6 · answered by cleazott 3 · 0⤊ 0⤋
i'd say now. don't forget, you need a room for abu
2006-06-10 23:16:14 · answer #7 · answered by Anonymous · 0⤊ 0⤋
now
2006-06-10 07:29:05 · answer #8 · answered by Anonymous · 0⤊ 0⤋