Buying a home is exciting, but if you’ve never done it before, it can also feel like a mystery. How long does it take? What happens first? When do you actually get the keys?
While every transaction is different, most home purchases follow a fairly predictable path. Here’s a clear breakdown of what to expect from your first showing to closing day.
Step 1: Financial Prep & Pre-Approval (1–2 Weeks)
Before you begin touring homes, it’s important to understand your budget. This stage involves reviewing your finances, speaking with a lender, and securing a mortgage pre-approval.
A pre-approval tells you how much you can borrow and shows sellers that you’re a serious buyer. It also helps you shop confidently within a realistic price range instead of guessing what’s affordable.
Step 2: The Home Search (2 Weeks – Several Months)
This is the fun part, and sometimes the most unpredictable. Some buyers find the right home quickly, while others take time to explore different neighborhoods, layouts, and price points.
During this stage, you’ll tour properties, compare features, and refine your priorities. Often, buyers start with a long wish list and narrow it down as they see homes in person. The timeline largely depends on inventory, market conditions, and how specific your needs are.
Step 3: Making an Offer (1–3 Days)
Once you find the right home, things can move quickly. Your agent will review comparable sales, help determine a competitive offer price, and prepare the contract with appropriate terms and contingencies.
Negotiations may involve price, repairs, closing timelines, or seller concessions. Once both parties agree and sign, the home is officially under contract.
Step 4: Inspections and Due Diligence (5–10 Days)
Shortly after going under contract, you’ll schedule a home inspection. This typically happens within the first week or so. The inspector evaluates the property’s major systems and overall condition, and you’ll receive a detailed report outlining any concerns.
Depending on the findings, you may negotiate repairs, request credits, or move forward as planned. This stage is about clarity and ensuring you fully understand the home you’re purchasing.
Step 5: Appraisal & Loan Processing (2–3 Weeks)
While inspections are taking place, your lender is working behind the scenes to finalize your loan. The lender orders an appraisal to confirm the home’s value and completes underwriting, which involves verifying your income, assets, and credit.
This portion of the process usually takes two to three weeks. As long as the appraisal supports the purchase price and your financial documentation checks out, your loan will move toward final approval.
Step 6: Final Walkthrough (24–48 Hours Before Closing)
Within a day or two of closing, you’ll complete a final walkthrough of the property. This is your opportunity to confirm that agreed-upon repairs were completed and that the home is in the expected condition. It’s not another inspection, but rather a final check before ownership transfers.
Step 7: Closing Day (Typically 30–45 Days After Contract)
Closing is when everything becomes official. On this day, you’ll sign your loan documents, transfer funds for your down payment and closing costs, and complete the final paperwork. Once everything is recorded, the home is officially yours.
The Overall Timeline
From pre-approval to closing, many buyers complete the process within two to three months. However, the timeline can be shorter or longer depending on market conditions, financing complexity, or unexpected hurdles along the way.
The key is understanding that homebuying is not one single event but a series of structured steps. When you know what’s coming next, the process feels far less overwhelming and much more manageable. And when you finally receive the keys, the journey from search to closing feels incredibly rewarding.
Ready to start your homebuying journey? Call Michele at Prism Realty – A RowCal Company today to get pre-approved and start exploring your options. Your dream home is waiting!
