If you are planning to take advantage of the government's $8K house warming gift, you must close by November 30th. That seems like a long time away, but you better get started now to make the deadline. There are many steps in the home buying process, and it will realistically take you 45 days (maybe more) from contract to closing.

It is my humble opinion that the system will get very clogged as we approach the deadline, then that will add more time to your closing schedule, and possibly cause lots of problems for unsuspecting buyers.

If you're a serious buyer, I suggest you start looking now, and buy your home in September or October to beat the rush. I will be advising my buyer clients to make sure we allow enough time to close our transactions no later than the middle of November, just to allow for a little wiggle room.

You may not be aware of this, but most title companies and lenders only work on Monday and Tuesday, then a half day on Wednesday before Thanksgiving. They take off Thanksgiving and the Friday after Thanksgiving, which leaves one Monday, November 30th to take care of EVERYBODY who waited until the last minute.

That sounds like a party we will all want to avoid. Plan ahead. You will thank yourself AND have a new home to enjoy for Turkey Day!

Steps in the process and typical timelines:
1. Get pre-approved with your lender in the next week so you know what you are truly qualified to spend. (2 hours)
2. Start working with your Realtor in the next week to get listings that meet your criteria. You should have a Gateway to get the most current info. (1 hour)
3. Drive by the listings you like best online so you can see them from the outside. Make note of neighborhoods you like/don't care for, then let your agent know what you're thinking. (1-2 weeks)
4. View the homes you like best online and outside with your agent so you can see the interiors. (1-2 weeks)
5. Write an offer on the home you like best. (1-2 hours)
6. Wait for response and negotiate details (1-5 days, unless it's a foreclosure or short sale, then it could take from 3 days to 8 weeks+ for a response)
7. Option period begins after contract is accepted (7-10 days to get your inspections, insurance quotes, revisit your situation with your lender, get repair estimates, etc.)
8. Title work and loan underwriting. This includes survey, appraisal, and FHA/VA inspections, if applicable. (21-30 days)
9. Prepare for closing (2-5 days for title company to prepare HUD-1 Settlement Statement and attorneys to draft documents)
10. Closing and funding--you get your keys!

If you have questions about the process or want to get started, please ask.