If you are ready to purchase a house and really need to do so quickly, there are ways that you can speed up the home-buying process. On average, it takes 30 to 45 days to complete the entire process, but this time frame is after you have obtained financing and selected the house you want to buy. If you have not done these things, it will take longer. Here are some tips to help you accomplish buying a house as fast as possible.
Get preapproved from the bank
Unless you have cash to use to pay for the house you will buy, you will be stuck needing a loan from a bank to make the purchase. Getting preapproved for a loan from a bank can take time, so you should apply immediately if you want to buy a house quickly. Applying for a mortgage loan will require filling out an application and submitting all the required paperwork and documentation.
When you prepare to visit the bank to do this, make sure you bring copies of your tax returns from the last two years, pay stubs, and bank statements to show the cash you have on hand. These are just some of the things the bank will need, but they can give you a list of other things they may need if you call them and ask.
Once the bank has what they need, they will process the loan, and you will find out their decision within a few days or weeks.
Contact a real estate agent
While the bank is working on your application, you should start looking for a house to buy. To do this, contact a real estate agent and tell him or her what your needs are. The agent will narrow down the options available to choices that fit your needs, and the agent can schedule showings for all the homes you like.
Complete the necessary steps
Once you have a house selected and are preapproved, the bank will give you a list of things that must be completed before you can close on the house. This will usually include getting an appraisal, inspections on the home, and title work completed. If you know what these are and push to have them done right away, you may be able to get the loan to go through faster.
If you would like to learn more tips to help you purchase a house quickly, contact an experienced real estate agent today.
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