On Average, you could be in your Northern Kentucky dream home in 5-6 months if you start the process today. According to mortgage data from Ellie Mae, the average time to close a loan on a home purchase was 52 days as of June 2021. The search for the perfect home prior to that can take anywhere from 3-4 months.
Get Preapproved For a Home Loan
(About 1 Week)
Getting preapproved for a home loan is a way to tell a seller that you mean business. Learn More
Visit Open Houses and Tour Homes
(About 3 Months)
Most people end up viewing 9 homes before they find one they want to buy. We have compiled some of the best tips to keep you focused during your search for the perfect home in Northern Kentucky. Learn More
Free Download: Complete Guide to Buying a House
Make an Offer on a House
(About 1-2 Months)
Once you have found the house of your dreams in Northern Kentucky the next step is to make an offer. This can be an exciting and an overwhelming time for anyone, but especially first time home buyers. Luckily, you don’t have to do it alone. A real estate agent will walk you through the process of putting your offer together & negotiating with the seller. Learn More
Go to Contract and Write an Earnest Money Check
(a few days)
Earnest money is money that you pay upfront to prove to the seller that you are serious. The check is typically cashed & held in a title company trust account or in the broker’s escrow account. The money is then applied to your down payment and closing costs. Learn More
Get a Home Inspection
(3-7 Days to schedule / 1 week to receive report)
It is imperative that you get a home inspection even if your offer is not contingent on one. Learn More
Get a Home Appraisal
(3-5 Days to schedule / 1 week to receive report)
A home appraisal is a professional opinion of a home’s value. A mortgage lender uses appraisals to verify the value of the home is in line with the amount financed for the purchase. Learn More
Close on Your House
(About 50 days once an offer is accepted)
After getting all of your ducks in a row it is finally time to close on your house & receive the keys! Learn More
Common Delays in the Home Buying Process
There are things you can do to avoid common delays in the home buying process:
- Trouble with financing
- Appraisal comes back with value that doesn’t match loan criteria
- Home inspection identifies the need for serious repairs
- An issue with the title/deed
- An issue with hazard or flood insurance
- The buyer loses their job
Contact me today & I’d be happy to help navigate you in purchasing your new home in Northern Kentucky!
