This Buying A House Guide is good advice for all aspects of your life – Always Be Early!
There is so much going on in any real estate transaction – much of it unforeseen at the time of the offer – why would anyone want to make it more stressful?
It takes a certain amount of time to complete the purchase of a home – time to obtain the financing, time to perform inspections, and time to gather the paperwork required to transfer title from one person to another.
And there is no time to waste!
Buying A House guide tip #5 – Try To Be Early!
Buying A Home Guide - Always Be Early with your timeframes!
Let’s say you make an offer on a home.
Then you get it accepted subject to meeting certain deadlines along the way. For example, you will usually have about three days to complete a loan application and one more day after that to show the source of your down payment.
You will probably have 14 or so days after acceptance to perform a home inspection – and any other inspections you feel are necessary – to determine that the home is in suitable condition.
You may have 17 days after acceptance to provide an appraisal and another four days to deliver loan documents to title.
I say – don’t count how many days you have to complete these tasks. Start doing them now!
If you have been following along, you have already seen the wisdom in completing a loan application before you made the offer. In fact, with my method, you are already approved for the loan pending the appraisal!
Once your offer is accepted, the first thing you and your Realtor should do is order the home inspection. Even though you have 14 days to complete it, you will want enough time to read and understand the report – and order any other reports if necessary. These guys are often busy and are booked days in advance, so call them today!
Once the inspection is ordered, schedule the appraisal. These things take time to complete, too. Hopefully, you and your Realtor have already done your homework about the property value before you made the offer. If the home inspection turns up any glaring faults, you will not want to pay for an appraisal on a home you will not be buying.
But order them both early in the transaction - appraisals can be cancelled a lot quicker than they can be ordered!
Remember – these things are a lot easier to cancel than they are to order at the last minute!
Also, home inspectors, appraisers, Realtors – even you – are human and are subject to getting sick or having unexpected things get in the way of their workday.
You do not want to be running around at the last minute trying to get a home inspector or appraiser to come out to the property simply because of your procrastination!
Let the excitement come from dreaming about moving into your new home – not worrying about whether you have jeopardized your purchase by a failure to perform your duties on time.
This Buying A Home Guide tip should be a Living Your Life tip – if you try to be early and are running a little late, you may still end up right on time!
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Thanks for sharing this out. So beneficial.