Transaction Timeline

A step-by-step guide through the entire home buying process — from getting pre-approved to closing day. Every transaction is unique, but this gives you a reliable roadmap.

FinancesHome SearchUnder ContractDue DiligenceClosing
Step 1Finances

Step 1: Finances

Get pre-approved for a mortgage before you start shopping — it defines your budget and makes your offers credible.

  • Gather your documents: W-2s, tax returns, pay stubs, bank statements
  • Obtain pre-approval or proof of funds from a lender
  • Locate your down payment funds
  • Prepare for additional costs: closing costs typically run 3–6% of the loan value
  • Ask your lender about loan type, APR, rate lock, and closing cost options
Step 2Home Search

Step 2: Home Search

Preview properties online, create your needs vs. wants list, and schedule showings for the homes that excite you most.

  • Build your "Needs" list (non-negotiables) and "Wants" list (nice-to-haves)
  • Use search filters wisely — expand your area and add $25–50K to your max price
  • Check Google Street View before scheduling a showing
  • Don't skip homes that are "pending" — contracts do fall through
  • Take notes, photos, and video at every showing
  • Remember: you can't change the lot, location, or price you paid — weigh those heavily
Step 3Under Contract

Step 3: Under Contract

Write an offer, negotiate the terms, and once accepted — move quickly on the next steps.

  • Write a competitive offer: lead with your best price and keep contingencies lean
  • Include a pre-approval letter and consider a personal note to the sellers
  • Negotiate terms and execute the purchase contract
  • Submit your earnest money deposit to escrow
  • Begin your loan application within 5 days of the executed contract
  • Do NOT make major purchases, job changes, or open new credit during this period
Step 4Due Diligence

Step 4: Due Diligence

Inspect the home thoroughly, lock in your insurance, and let the lender finalize the appraisal.

  • Schedule all inspections immediately — general, pest, sewer, roof as needed
  • Attend the inspection in person and review the full written report
  • Negotiate repairs, price reductions, or credits based on inspection findings
  • Obtain homeowners insurance quotes — required by your lender
  • Your lender will order the appraisal independently
  • If the appraisal comes in low, you may renegotiate or cover the gap
Step 5Closing

Step 5: Closing Time

Clear to close — sign the documents, fund the loan, do your final walk-through, and get your keys.

  • Title company conducts title search and orders survey
  • Receive "clear to close" from your mortgage underwriter
  • Wire closing funds to the attorney's office per their exact instructions
  • Do your final walk-through to confirm repairs and condition
  • Sign all documents at the closing attorney's office
  • Keys are yours — it's official!