1. What the first step of the home buying process?
Getting pre-approved for a mortgage is the first step of the home buying process. Getting a pre-approval letter from a lender get the ball rolling in the right direction.
2. How long does it take to buy a home?
From start (searching online) to finish (closing escrow), buying a home takes about 10 to 12 weeks. Once a home is selected and the offer is accepted, the average time to complete the escrow period on a home is 30 to 60 days under normal market conditions.
3. How many homes should I view before buying one?
That’s up to you! For sure, home shopping today is easier than ever before. The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person.
4. How long can the seller take to respond to my offer?
Twenty-four hours should be sufficient. However, the respond of the seller to an offer may take up to few days.
5. What if my offer is rejected?
Sellers can flat-out accept or reject an initial offer. But there a third path that is quite common, sellers can initiate a counteroffer. So, if a counteroffer is given by the seller, you’re still in the game. You and your agent just need to review it determine whether the counteroffer is acceptable. If so, then approving it closes the deal immediately.
6. What should I check before buying/renting a house?
You have to check that all appliances work. Test the electric the Outlets. Open and Close All Windows and Doors. Test Toilets, Sinks, Showers, and Baths. Scout Out Areas of Potential Leakage. Pay Close Attention to Basement Walls.
7. How long should a house viewing last?
Give yourself plenty of time. You probably need at least 20-30 minutes to view the inside of a property and a further 15-20 minutes to check the outside and to walk around the local neighbourhood.