Buying Real Estate in Navarre is an exciting endeavor. But thanks to all of the financial and legal steps that must be taken, it can take longer than many people expect before the sale is finalized.
Completing everything that is required can take as little as a few weeks or as long as months, depending on a few factors.
Pre-Approval For Mortgage
To start the process, the first step is getting preapproved for a mortgage loan. You’ll be required to fill out paperwork about your income, credit and assets. This takes care of much of the required paperwork in advance and will greatly speed up the buying process.
You can speed up the process even more by having important information (including pay stubs and bank information) organized and ready to go. The preapproval process can take up to a few days but in some cases even as little as one day.
House Shopping
Once you’re your preapproved you can start shopping around for homes in your price range. Finding your perfect home can take as little as a few days or as long as a few months depending on what’s available in your local market and your specific needs.
Chris Stapleton Realty can assist you in finding houses for sale in Navarre FL! Call (850) 939-1099
Negotiating A Contract
Once you’ve found a house, your Navarre Real Estate Agent will help you make an offer that the seller will either approve, reject or counter. You will usually get an answer within a day or two. If your offer is approved you can move on to the next step, which is handling inspections and appraisals. If your offer is rejected or countered, the negotiation process can go on for a few more days, depending on what you decide to do.
Most contracts require that you get the home inspection and appraisal before moving forward with the sale. Including these steps is in the buyer’s best interest! This part of the process can take up to a few weeks to complete and generally must be finished before you can close.
Your purchase may be delayed or cancelled if issues come up such as a low appraisal value, having to undergo a pest inspection or repair the roof.
Closing Time
Once your offer is approved and everything is completed your lender will begin the closing process. If you are already preapproved most of the paperwork has already been taken care of and usually doesn’t take much time to complete the process.
There will still be some additional documents that will be required during the closing period. You can help move things along by having important paperwork like tax returns on hand. While you are in the home buying process try not to have any major changes in your financial situation or credit, like taking out a loan or changing your marital status, as this will delay the process even more.
Are You Ready To Begin? Contact Chris Stapleton Realty Today! (850) 939-1099
We will discuss your home buying goals, your wants and needs, and we’ll set up an action plan that will take you from viewing homes to closing on your purchase!
Just getting started? Learn the Benefits Of Buying Real Estate Young.
