How To Shorten The Home Buying Process

It's only natural for buyers to be eager when it comes to the home buying process. Many buyers don't realize that they actually have some control over how long it takes to complete the deal. If you are ready to move into your new home yesterday, read on and find out how to shorten the home buying process considerably.

Don't Waste Time Searching On Your Own

You could access online real estate listings and even look through the Sunday paper, but that is not the fastest way to find a home. A good real estate agent knows about not just homes you might have overlooked but also homes that are not yet listed. If you are on a tight timeline, let your agent know about it, and you might find that things get expedited a lot quicker. In terms of finding an agent who is quick and proactive, find an agent who is not too busy to return phone calls quickly and is more aggressive in showing you properties. Keep in mind that you are under no obligation to stick with an agent who is not moving fast enough to suit you.

Don't Waste Time On Homes You Cannot Afford

One sure to way to zero-in quickly on homes that are more likely to be approved by your lender is to have a preapproval performed. Mortgage loan preapprovals provide buyers with a range of prices to help them narrow down the search to appropriate homes. The lender performs a credit check and asks you for some basic income and employment information and then lets you know how much home you can afford. While not a loan guarantee, it will help you set your sights on home prices that meet the lender's approval.

Don't Waste Time On Homes That Don't Meet Your Needs

Taking some time to create a needs and wants list will help you avoid viewing homes that are too far away from work, in the wrong school zone, are too small or too large, etc. The more parameters you have, the fewer homes you need view, and the more quickly you will find a home.

Don't Waste Time in Underwriting

Once you've found a home, agreed on a price, and applied for the loan, the end is in sight. You can shorten the underwriting process if you have the needed documents ready to submit when requested. In most cases, underwriters will need the last few months of bank statements, pay statements, and last year's tax returns.

To find out more tips on making the home buying process speedy, speak with your real estate agent.