Hey everyone! I'm looking to buy a home. My apt lease is up at the end of Oct. 2006. It's currently mid-July. Do I have enough time to find a home and close or should I extend my lease? I'm working on my credit score and down payment but want to think realistically about a time frame. Any agents or brokers out there that can help?? Or anyone with personal experience would be great, too. Oh, btw, I live in Texas. Thanks Again!!!
2006-07-18 13:17:27 · 5 answers · asked by Jackie 1 in Business & Finance ➔ Renting & Real Estate
Nothing is impossible. Inprobable maybe, but not impossible.
If you have your financial house in order and there aren't any other complications or issues on the home you choose like titles, appraisals, inspections, insurance, etc. you could get a closing down in about 2 weeks. The normal time frame is about 30 days. Even with last minute delays, 30 days is the norm. You will also have to deal with the homeowners time frame as well. I suggest when presenting a purchase order that you stipulate a closing time period. It's been my experience that Title companies do a pretty good job getting the sales to closing especially when there is a specific date indicated in the agreement.
If you don't have yourself preapproved you can still get it done in 30 days if your lender doesn't drag there feet for whatever reason.
You would certainly have enough time before the end of October.
2006-07-18 13:30:58 · answer #1 · answered by Sam B 4 · 1⤊ 0⤋
You have more than enough time. Right now, you should consult a Realtor (Buyers Agent), to show you everything that is currently on the market in your price range. That will give you an idea of what to look for. Also, they can connect you with a loan officer to get a pre-approval, so when you do decide to make an offer, you'll know what you can afford.
It generally takes about 30 days from the time you write the offer, till the closing. Again, having that pre-approval will help speed up the process.
FYI... You should try to close somewhere around the 15th of October. This way , your first mortgage payment will not be due until December 1st, and you will have lived in the home for 1-1/2 months by that time. Best of luck!
2006-07-18 21:17:39 · answer #2 · answered by Hoopfan 6 · 0⤊ 0⤋
depending on your personnal situation you should be able to find a home and close in 45-60 days. make sure you get an agent that will listen to your needs and refer a good mortgage broker or lender. email me, i might could refer someone depending on your location. droemer05@yahoo.com
2006-07-18 13:23:36 · answer #3 · answered by daniel r 4 · 0⤊ 0⤋
you can close in less than 45 days just get the right realtor. also find a great mortgage company to get you approved quick so you can start looking as soon as possible.
2006-07-19 03:33:37 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Contact me, I have a ton of rental property and can point you in the right direction of who to use and not. I can answer all your questions.
I hate to see people get screwed cause they didnt know.
jdbeck38225@yahoo.com
2006-07-18 16:55:10 · answer #5 · answered by Jimmy1575 2 · 0⤊ 0⤋