Purpose: Know your budget and show sellers you’re a serious buyer.
Key Steps: Choose a lender or mortgage broker; Provide financial documents (income, debts, assets, tax returns, credit info); Receive a pre-approval letter stating how much you can borrow
Why It’s Important: You can’t make a strong offer without pre-approval. It also helps narrow down your home search.List item
Choose a Real Estate Agent & Start Home Search
Timeline: 1–8 weeks (varies widely)
Key Activities:
Choose a trusted, experienced buyer’s agent
Set criteria: budget, location, size, style, must-haves
Get listings, attend showings or open houses
Refine your wants/needs as you go
Tips: Be ready to move quickly in competitive markets; Keep an open mind — no house is perfect, but the right one feels right
Make an Offer on a Home
Timeline: 1–2 days to write & submit
Contract Used in Texas: TREC 1-4 Family Residential Resale Contract
What’s Included in the Offer: Price, Earnest money deposit, Option fee and option period (inspection period), Financing terms, Closing date, Inclusions/exclusions (appliances, fixtures), Seller-paid costs (if any)
What Happens Next: The seller may accept, reject, or counter your offer; If countered, negotiation begins until both parties agree and sign
Deliver Earnest Money & Option Fee
Timeline: Within 3 days of contract execution
Earnest money is deposited into escrow with the title company. Option fee is paid directly to the seller (if applicable in Texas).
Conduct Inspections (Option Period)
Timeline: 5–10 days (varies)
Purpose: Uncover any defects, safety issues, or concerns with the home.
Typical Inspections: General home inspection; Termite/WDI inspection; Roof, foundation, plumbing (if needed)
Outcomes:
Negotiate repairs or price concessions
Accept as-is
Terminate the contract (within option period)
Finalize Loan Application
Timeline: Immediately after contract is executed
Steps:
Submit full loan application with executed contract
Lock in your interest rate (if not done earlier)
Provide updated financial documents
Loan goes to underwriting
Home Appraisal Ordered by Lender
Timeline: 1–2 weeks after contract execution
Purpose: Ensure the home’s value supports the purchase price
If Appraisal Comes In Low: Buyer can pay the difference; Renegotiate price with seller; Terminate contract if there’s an appraisal contingency
Title Commitment & Title Search
Timeline: 1–2 weeks after contract
Title Company Responsibilities:
Run title search to ensure clean ownership
Issue title insurance commitment
Clear any liens, judgments, or encumbrances
Loan Underwriting & Approval
Timeline: 2–3 weeks
Underwriting Reviews:
Your income, credit, assets
Appraisal value
Title work
Once approved, your lender issues a Clear to Close (CTC)!
Final Walkthrough
Timeline: 1–2 days before closing
Purpose: Verify condition, ensure repairs were made, check that home is ready to transfer.
Closing Day
Timeline: ~30–45 days from contract date
What Happens:
Sign final loan and title documents
Pay your down payment and closing costs (wired or cashier’s check)
Title is transferred and funded
You receive keys after funding (same day or next business day)
Move In! Timeline: Immediately after funding or as negotiated Time to celebrate and enjoy your new home!
Get to know your timeline…
Know what’s coming to stay on top of your game. Have questions? Let’s Chat…
