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A GUIDE FOR PURCHASING YOUR HOME A typical time frame from the time the home is selected to the time of the closing is approximately 30-60 days, as detailed in the timeline below. Seek pre-approval
for your mortgage. |
Learn about your destination city.
Typical time frame: 1-2 weeks
Your Santa Fe Properties Relocation Professionals can assist you with gathering
information on the area you are moving to. Receiving information on the public
and private schools, churches, recreational activities, shopping, taxes or
other information you might be interested in finding is just a mouse click
or phone call away. Receiving a relocation package with the basic information
on the community will assist in acquainting you with the city and available
services and amenities. Do your homework before beginning the home search to
acquaint yourself with your destination area.
Choose the perfect Real Estate Broker.
Time Frame: 1-5 days
Your Santa Fe Properties Relocation Professionals will conduct a brief interview
and assist you in choosing the real estate broker best suited for you. An broker
will be chosen based upon your requests and follow up will be completed to
assure that a good match has been made.
Search for your home.
Typical time frame: 3 days to 2 weeks
Depending on what you are looking for and the state of the real estate market
at the time, the length of time of your search can vary. Being internet-savvy
will save time. Viewing homes over the web to decide what you like will save
time when you begin viewing homes with your real estate broker. The number
of homes viewed varies based upon the number of homes available in the marketplace
at the time of the search and the wishes and needs of the client.
Negotiate to purchase and sign a contract.
Typical time frame: 1-2 weeks
Once the home is located, your real estate broker will advise you on the best
way to approach an offer on your chosen home. Offers which are close to the
listed price of the home will take less time to negotiate than when the offer
and listing price are further apart. Having a pre-approval letter from a lender
will make your offer to purchase a home more attractive. Upon acceptance of
the final offer, buyer and seller will execute a purchase agreement.
Apply for your mortgage.
Typical time frame: 1-3 weeks
Once the purchase agreement has been executed by both the buyer and the seller,
it is time to apply for your mortgage. Having a pre-approval letter from your
chosen lender will shorten this time frame. Your lender will go through several
steps in approving your mortgage, including securing an appraisal for the property.
Schedule a closing.
Typical time frame: 30 - 60 days from the time purchase agreement
is signed.
Many factors can effect how soon after signing of the purchase agreement
the parties will close. Those include the availability of funds to
complete the transaction, inspection of the property and deficiencies
which must be corrected prior to closing, seller’s time frame
in vacating the property.
Possession and Move in.
Typical time frame: Same day the closing is funded.
Keys typically change hands from the seller to the buyer at the time
the closing is funded. This could be affected by funds not immediately
available to seller from buyers’ lender, or a prior arrangement
made between the parties allowing the seller to remain on the property
for a period of time after closing.