Buyer Resource – Home Buying Checklist

Buyer Resource

An average week-by-week homebuying checklist as a guide to buying a home with a lender and realtor.

*Situations and process may vary, this is a general overview of the buying process.*

Before Week 1: Get financially ready

• Contact 1–3 lenders and compare loan options, rates, fees, and estimated payments. Estimate your comfortable monthly payment, not just the maximum loan amount.
• Check your credit and avoid opening new credit accounts.
• Save for down payment, closing costs, inspection, appraisal, moving costs, and emergency repairs.
• Gather key documents: pay stubs, W-2s/1099s, tax returns, bank statements, ID, debt information, and gift letters if applicable.
• Start researching neighborhoods, commute, schools, taxes, insurance, and HOA dues.

Week 1: Get pre-approved

• Connect with the lender you’ve chosen to work with.
• Submit income, asset, debt, employment, and credit information.
• Ask how long your pre-approval is valid.
• Get a written pre-approval letter before making offers.
• Decide your target purchase price and maximum offer limit.

Week 2: Choose your realtor and define your search

• Select a realtor who knows your target area and price range.
• Review buyer agency terms and ask how they handle offers, negotiations, and timelines.
• Make a list of must-haves, nice-to-haves, and dealbreakers.
• Set up listing alerts.
• Decide how quickly you can tour homes and submit offers.

Weeks 3–6: Tour homes and compare options

• Tour homes in person with your realtor.
• Track each home’s price, condition, location, taxes, HOA fees, and estimated repairs.
• Ask your lender for updated payment estimates on specific homes.
• Watch for red flags: roof age, foundation issues, water damage, electrical/plumbing concerns, and resale challenges.
• Narrow your list and be ready to act quickly if the right home appears.

Week 6 or when ready: Make an offer

• Review comparable sales with your realtor.
• Decide offer price, earnest money, closing date, and contingencies.
• Common contingencies include financing, appraisal, inspection, title review, and sale of current home if applicable.
• Submit the offer with your pre-approval letter.
• Negotiate seller response: acceptance, counteroffer, rejection, or multiple-offer situation.

Week 7: Offer accepted — open escrow and apply for the loan

• Sign the purchase agreement.
• Deposit earnest money according to the contract instructions.
• Tell your lender you are under contract and complete the full mortgage application.
• Lock your interest rate if appropriate.
• Schedule the home inspection quickly.
• Review important contract deadlines with your realtor.

Week 8: Inspection and repair negotiations

• Attend or review the home inspection.
• Decide whether to accept the property, request repairs, ask for seller credits, renegotiate, or cancel if allowed.
• Review seller disclosures carefully.
• Order any additional inspections if needed, such as sewer, roof, pest, septic, well, or structural.
• Keep your lender updated if the price or seller credits change.

Week 9: Appraisal, title, insurance, and underwriting

• Lender orders the appraisal.
• Title company searches ownership history, liens, and legal issues.
• Shop for homeowner’s insurance and give proof of coverage to your lender.
• Respond quickly to underwriting requests.
• Do not make large purchases, change jobs, move money around unnecessarily, or open new credit.

Week 10: Conditional approval and final loan conditions

• Review any lender conditions and provide requested documents.
• Confirm your down payment and closing funds.
• Review the title report and ask questions about liens, easements, or restrictions.
• Confirm repair agreements are documented.
• Ask your lender and title company for an updated estimate of cash needed to close.

Week 11: Closing Disclosure and final walkthrough

• Review your Closing Disclosure carefully.
• Compare it to your Loan Estimate and ask about unexpected changes.
• By law, you must receive the Closing Disclosure at least three business days before closing.
• Schedule your final walkthrough.
• Confirm any agreed repairs are complete.
• Verify wire instructions directly with the title/escrow company using a trusted phone number.

Week 12: Closing week

• Bring required ID and certified funds or complete verified wire transfer.
• Sign final loan and title documents.
• Wait for lender funding and deed recording.
• Receive keys once closing is complete.
• Save your closing documents in a safe place.
• Transfer utilities, change locks, update your address, and set up a home maintenance plan.

Quick tips to avoid delays

• Respond to lender requests within 24 hours.
• Keep finances stable until after closing.
• Do not buy furniture, cars, appliances, or other big-ticket items before closing.
• Ask questions whenever something is unclear.
• Keep all deadlines from the purchase agreement on your calendar.

The whole process can be faster or slower, but a common timeline is about 30–60 days after your offer is accepted, plus however long it takes you to find the right home.