article thumbnail

How Long Does it Take to Close on a House? 11 Steps From Your Offer to Keys in Hand

Redfin

The estimate will tell you the full costs of your loan as well as your closing costs. . When you get your estimate, review it closely. Longer rate locks often carry an extra fee,but with closing times trending towards the longer side, that fee may be worth the peace of mind. Average time: 7-14 days.

Closing 75
article thumbnail

When Is a House Down Payment Due and How Much Do I Need?

HomeLight

Otherwise, earnest money will be held in an escrow account until closing, and the amount is then applied toward your down payment at closing. Larsen cautions that if you’re buying a new construction home, you will likely be expected to pay a much larger percentage of earnest money. Don’t forget about closing costs.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How to Buy a House in the Bay Area: 14 Steps to Close the Sale

HomeLight

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. down payment and/or closing cost assistance. Loans are between 3%-3.5%

Closing 88
article thumbnail

Closing Documents for Buyers: 15 Closing Documents to Bring, See, Sign

HomeLight

This piece of paper shows that you have the funds to cover the down payment, closing costs, prepaid interest, taxes, and insurance. You can get a copy of your policy declaration at least a few days before closing by calling the insurance company and asking them to fax it to your lender. Closing Disclosure.

Closing 87
article thumbnail

Your Guide to Buying a Home in the Sunshine State of Florida

HomeLight

Consider factors such as how long you plan to be in the area, if you have steady employment, and if you have enough money saved for not just the down payment, but for closing costs , maintenance, property taxes, and more. As far as home styles go, new construction is trending toward a country style, says Raymer. Closing date.

article thumbnail

Can You Sell a House with Code Violations? Here are Your Options

HomeLight

Most cities and municipalities adopt a set of universal building codes for residential construction that are developed and updated by the International Code Council (ICC), collectively referred to as the International Residential Code (IRC). Rooms added after original construction – Work must be permitted and meet building code.

article thumbnail

The Key Paperwork You Need to Sell a House, With or Without a Realtor

HomeLight

You’ll need to research comparable properties or “comps ” in your hyperlocal real estate market , taking into consideration lots of variables like location, era, construction and materials, condition and more. Home inspection report. It’s quite a lot of data to parse, and requires a degree of expertise for accuracy.