The whole process of business usually takes a great deal of time, starting from 3 months onwards, because you have to go through each of the following tedious stages:
- appraisals;
- securing financing;
- closing.
So if you want to speed the entire process up a bit, then try the tips that follow.
1. So whatcha want? Be prepared and know thyself
In any market, you’ll be up against the stiffest of competition in the form of buyers, and the housing market is no exception to this rule. So in order to get ahead of the game and make the buying process as swift and streamline as humanly possible, what will you need?
A plan.
What kind of plan?
A plan with you at its center. First, you must think very carefully about what it is exactly that you want to get out of this process.
Plan to succeed or prepare to fail
First things first, you have to have a long hard think about precisely what kind of house you are looking to buy.
Think big, zoom out for a panorama of the locale:
- sense the flavor of the neighborhood – whether it is a leafy suburb, safe, peaceful, and relaxed or a bit rough around the edges and gritty;
- local education – the schools, colleges, and universities in the area for your kids or yourself;
- job prospects – whether there are commercial districts nearby, or factories and industrial parks, or office blocks and skyscrapers;
- nearby facilities – see what can you do there to do after work or on weekends in terms of sports centers, gyms, swimming pools, leisure centers, cinemas, theaters, restaurants, cafes, bars, and clubs;
- features of the house inside and out – the number of rooms, how much space you have when sharing is a big issue now with office space needed if working from home, and perhaps the option of garden office space when weather permits.
When you have done that, you can start to zoom in on the most important sale features that you’re in search of, such as:
- the price of the house,
- what closing costs you can pay,
- the cost of repairs.
The more prepared you are, with a precise idea of what you want, the less time you will waste with unlikely buyers. This helps to speed up the process of buying a house no end.
2. A seal of pre-approval
With good reason, real estate agents never fail to recommend getting a loan pre-approval before you start looking for a house.
Why?
- It helps you refine your search options;
- you know precisely what you can afford;
- when you find your dream home, you can make an immediate offer, so no waiting around while your lender takes an age to approve your loan, and thus the process jumps along as quick as a flash.
3. Sell your house 1st!
If you own your current house, it’s really worth selling it before you start looking for one you would like to purchase. Most people make the mistake of finding their dream home before trying to sell the one they already have.
Why is this a mistake?
Because it can take at least 3 months to sell and, usually, the waiting time in total runs on to 6 months or over. Real estate agents sometimes go as far as recommending that you rent a house (if it is deemed necessary) so as to ensure that you first sell the house you own.
4. Close early
Scheduling an early closing date ahead of any other deadlines comes highly recommended.
Why?
It’s very effective and allows for flexibility with regard to extending the deadline, should any adverse event arise to throw a spanner in the works that might put you behind schedule.
So what does ‘early’ mean here exactly?
If you want to buy a house by May 30th, schedule the closing for April 15th at the latest (or, even better, earlier).
Any day of the week?
No! The exact day of the week is important.
Schedule a midweek closing date so that those involved are no longer occupied with tying up the loose ends that usually crop up at both the start and end of the week.
Similarly, the end of the month can prove problematic due to title companies and lenders being burdened by paperwork from homeowners, thereby increasing the possibility of errors and subsequent lengthy delays.
As you can see, the process is riddled with problems and difficulties seemingly designed to waste your time. So whether you are buying or selling, we are willing to make you a Quick N Easy Offer in just a few working days.
