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Process, Time & Costs

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Process, Time & Costs
Phase I
The Offer
Once you’ve been pre-approved, the average home search is 30-90 days.
Phase II
The Inspection
Once your offer has been accepted, you have ten (10) days to have the property inspected by a licensed professional. During this time, you can back out of the offer for ANY reason. You can also ask for certain repairs based on the inspection report.
Phase III
The Appraisal
Once the inspection period closes and all parties sign off on the inspection response, the bank will send out a certified appraiser to determine the condition of the property as well as the value of the home. Because of high demand, this process can take up to four (4) + weeks. If everything checks out, you’re only a few weeks away from owning a new home!
Phase IV
The Closing
Once the appraisal report comes back, it goes to lender underwriting, a process that usually takes about two (2) days. The lender can now start the disclosure process, which includes a mandatory three (3) day buyer review period. When that ends, lender and title company work together to close the loan within the next seven (7) days.



Costs Involved

Deal Specific
Ø Earnest Money $500+
Ø Inspection $400
Ø Appraisal $500
Loan Specific
Ø Closing Costs (3% or lower) A $150,000 house will cost
$4,500 to close


*This does not include your down payment!
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