Dutchess County Real Estate, Home Buying Process, Tips for First-Time Homebuyers

How long does it take to buy a home?

You can spend a lot of time in the fact-gathering stage.  Some of my buyers take a year or more to get their finances together while searching for homes on the internet.   This actually helps the home buying process go more smoothly.

Once you have found a home and had your offer to purchase accepted by the sellers, it takes a minimum of 60 days to close.  What takes so long?

• The purchase offer is not a contract. 
• You’ll have a home inspection and possibly renegotiate the terms previously agreed to.
• Next comes the mortgage application and loan  process.
• The sellers’ attorney will send the contract to your attorney – you’ll sign – then the contract goes back to the sellers for signatures.  Now you have a binding deal.
• Title will be ordered and processed.  The town the property is in will be contacted for a property violation search.
• Finally the lender will issue mortgage commitment – there may be conditions that have to be resolved.
• At last a closing is scheduled and you’ll get the keys to your new home.