Practices vary from state-to-state.  Here are some rough guidelines for purchases in the Carolinas where the home buying process is relatively easy and buyer-friendly:

If you are planning to buy an existing home*, start backwards from the day you want to move in:

Immediately  - Go on line and get a free copy of your credit report to verify there are no errors.  If you have any blemishes in your credit history, talk to a lender about the best ways to fix those and improve your credit score.  This is the official government site where you can get a free credit report: FREE Credit Reports

Immediately - Have a conversation with a lender to find out how much of a mortgage you pre-qualify for. Then decide where your comfort zone is.

Up to 12 months out - Start talking to us about what you are looking for. We can assist you with general research on market prices, schools, commute times, etc. Review and discuss the homes we send to your Gateway web site to get a feel for prices and to communicate your preferences with us.

3 to 9 months out  - If you have a home you need to sell before buying, get it listed. This timeframe varies greatly based on the market you are in, but it almost always takes longer to sell than to buy.   If you are local, we can also handle the sale of your current home.  If you are out of the area, we can refer you to an experienced professional from our national network.

2 to 6 months out - Do a driving tour with us through communities and neighborhoods that interest you. We will show you all the points of interest, provide you with maps, neighborhood data, and tour some homes. In your Gateway, we will then focus on the neighborhoods you've chosen.

2 to 3 months out - Give one lender everything they need to pre-qualify you for the maximum mortgage amount you want. This means they have checked your credit and based on the numbers you have given them, determined the maximum purchase price you should be considering.

2 to 3 months out - We can tour every single home that you have interest in seeing and that fits the budget you have been qualified for. We will provide you with a ton of information and you will make note of your favorites.

1.5 to 2 months out - Narrow down your choices, revisit as needed, and choose a favorite. We will provide you with a complete market analysis of that property so that you can decide how much it is worth to you.  Choose which lender you will be using and ask them to
pre-approve you for a mortgage.  This means that have everything they need from you except the address of the home you are buying.

45 to 75 days out - Write and negotiate an offer. Historically, we have typically gone from accepted offer to closing in 4 to 6 weeks comfortably. The farthest out that the typical seller in our market is likely to consider closing is 60 to 75 days.

Recent Changes:  New federal laws were put into place effective May 1, 2009 that have had a major impact on our ability to go from offer to closing quickly and smoothly.  They have put a third party in the middle between lenders and appraisers whose purpose is to choose and order the appraisal.   This has lead to difficulties getting appraisals done in a timely manner and more instances of unqualified appraisers being selected who turn in inaccurate valuations of properties.  New lending laws effective January 1, 2010 have also slowed the closing process.  Buyers should now allow for more time & flexibility between acceptance of their offer and closing and be prepared for unforeseen and last-minute delays caused by these Federal changes. 

After your offer is accepted - We coordinate everything with the inspectors, closing attorney, lender and other parties.   

You can start packing!

Contact us and put us to work for you today.
We're ready when you are.

*We also work with both custom and production builders.  If you are considering building a home, contact us for advice on timing for that.