In this Knoxville Insider Issue…

🌤️ Real Estate Edition - How Long Does the Home-Buying Process Take?

LISTING OF THE WEEK!

How Long Does the Home-Buying Process Take?

Buying a home is an exciting journey, but one of the most common questions buyers ask is: "How long does the process take?" While the typical timeline from contract to closing is 30 to 45 days, the overall process can vary depending on market conditions, financing, and negotiations. Here's a breakdown of what to expect:

1. Pre-Approval & Home Search

Before starting your home search, it's important to get pre-approved for a mortgage. This process usually takes 1–3 days and helps determine how much home you can afford.

The actual home search, however, is different for everyone. Some buyers find their dream home in a matter of days, while others spend weeks or even months searching for the right fit. Market conditions play a big role—if inventory is low, it might take longer to find the perfect home.

2. Making an Offer & Getting Under Contract

Once you find the right home, your REALTOR will help you submit an offer. Depending on negotiations, it could take anywhere from a few hours to a few days to reach an agreement with the seller. Once accepted, both parties sign a contract, and the clock officially starts toward closing!

3. Home Inspection & Appraisal

• A home inspection is typically scheduled within a week to check for any major issues with the property. If repairs are needed, this could add a few days for negotiations.

• A home appraisal is ordered by the lender to confirm the home's value. This process can take 1–2 weeks, depending on the appraiser's availability.

4. Loan Processing & Underwriting

During this phase, the lender reviews all financial documents and the appraisal report. They may request additional paperwork before issuing final loan approval.

5. Closing Day!

On closing day, you'll sign all necessary documents, pay closing costs, and receive the keys to your new home!

While the average home-buying process takes 30–45 days, it can be shorter or longer based on individual circumstances. The best way to ensure a smooth and timely home purchase is to work with an experienced REALTOR and lender who can guide you through each step.

If you're thinking about buying a home and have questions, I’d love to help! Let’s find the perfect home for you

Ask a Realtor/Broker😀 

Got questions about buying or selling? Feel free to reach out! Whether you’re curious about how to get started or want advice on maximizing your home’s value, I’m here to help with all your real estate needs.

The Real Estate Edition Issue brought to you by Barbara Newton. She can be reached at [email protected]

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