Purchase Timeline
Buyer - Select Agent
Agent - Execute Buyer Agency
Buyer - Select Lender (Your agent can give you some recommendations)
Buyer - Pre-qualify for Loan
Lender -Copy of GFE & Lender Pre-qual letter lender to buyers agent
Agent - Home Search
Agent - CMA on property of choice
Agent/Buyer - Review any property disclosures & building permit history
Agent/Buyer -Write Offer - submit with earnest money check
Upon mutual acceptance of contract
Agent - Copy of accepted contract to lender
Agent/Buyer - Schedule 3rd Party Inspection
Agent - Open escrow and order title work
Buyer - Get homeowners insurance information to lender
Agent/Buyer - Review title work and covenants; request any supporting documentation
Upon successful inspection process
Agent - Have lender order appraisal
Buyer - Pay lender for appraisal
Agent - Have lender order ILC, if applicable
Buyer - Order new utility service
Agent - Schedule closing and final walk-thru
Agent -Verify inspection repairs, if any, are completed get receipts as necessary
Agent - Check for missing documentation and/or initials or signatures
Agent - Review final figures
Buyer - Get closing funds (good funds required)
All - Closing
* It may be a good idea to allow an extra day or so, if possible, to schedule movers, landscaping companies, contractors, cable/satellite/phone installation, or deliveries for the new house. This will give extra time to get the closing completed and the transaction funded. If movers or other companies are scheduled for the same day as closing (or even the day after), you might be in for a stressful situation if for any reason the closing is delayed.
