HOUSE CLOSING PROCESS & TIMELINE

WHAT STEPS ARE INVOLVED IN CLOSING A HOUSE, AND HOW LONG DOES THE PROCESS TYPICALLY TAKE?

The Final Step In Purchasing A Home Is Closing, Which Can Take Several Weeks To Complete. The Following Are The Steps Involved In Closing On A House And How Long They Typically Take:

• First, schedule a home inspection after your offer has been accepted. This usually takes 2-3 hours, and the inspector will provide a report detailing any property issues.
• Second, your lender will order an appraisal to ensure the property is worth your pay. This typically takes 1-2 weeks.
• Third, conduct a title search to ensure the property’s title is clear and purchase title insurance to protect against any potential issues. This often takes 1-2 weeks.
• Fourth, your lender will review your application and verify your income, employment, and credit history for approval. This typically takes 2-4 weeks.
• Fifth, review and sign a closing disclosure outlining the final loan terms and closing costs before closing; this generally takes three days.
• Finally, at closing, you’ll sign all necessary documents, pay closing costs, and receive the keys to your new home; this usually takes 1-2 hours. The overall time for the closing process typically ranges from 30-45 days from the offer acceptance date to the closing date but can vary.