top of page

How Long Does It Take To Purchase a Property


It takes four 1/2 months to search for a house and another 30-45 days to get it under contract. The timeline can vary depending on many factors, including the time of the year, your financing requirements, the type and availability of homes in your area, as well as the inventory.

Many people consider buying a home their largest financial investment. Therefore, most buyers take the time necessary to make informed decisions. However, it's also possible to take a long time to buy a house, depending on how the local housing market is doing.

The Tedious Steps Involved In Buying A House

These are the most time-consuming steps that can cause a slow process when buying a house. However, these steps can be completed quickly, which can make it easier to purchase a house.

Finding The Perfect Home Is As Easy As Searching

It is important to find a home that you love. If there isn't much inventory, it may take some time to find the perfect home.

Acceptance Of An Offer

In order to get accepted in a highly competitive market where many buyers are competing for very few homes, it is possible that you will have to make offers on only a few houses. If you are buying with financing and competing against other cash buyers, this can happen.


Sometimes it takes time for buyers and sellers to reach an agreement that both are happy. It can take several rounds of counter-offers and lengthy negotiations regarding repairs and appraisals.

Pre-Approval And Financing

A cash offer is a great way to speed up the home-buying process. However, if financing is required, it can take time to be pre-approved, have the appraisal completed, and get the loan underwriting done.


According to the report, 18% of buyers stated that it was difficult for them to find all their documentation in order to get a loan. Another 18% reported difficulty with the underwriting process.

What Is The Fastest Way To Buy A House?

Although there is no set time limit for buying a home, cash may speed up the process. There are steps you can follow if you want to accelerate the financing process. First, you should complete all paperwork quickly. Second, schedule your inspection as soon as possible. Keep in touch with your agent and the listing agent. The complexity of title transfer and underwriting processes means that the loan approval process is not entirely within your control.

It is important to remember that even if you are able to find the perfect home quickly, it may take some time to negotiate all details with the seller.

You can make the most of the steps involved in buying a house by knowing them all.

Start Financial Preparation

Start saving money for your down payment, usually 20%, well before you buy. You should also save at least 2-5% of your purchase price for closing costs.


You can review your credit profile before you apply for credit. This will help you get a better interest rate. Then, ask for copies of your credit reports and start paying off your credit card bills.

6 Months Before Purchasing:

  • You can save up for a downpayment

  • Define your budget

  • Order your credit

Learn About Your Market

Open houses are a great way to get a feel of the market. You can also narrow down your list by narrowing down what you want in terms of location, home type, and features.

It's also important to get to know the local experts who can help you with the purchase process. This includes a real estate agent if you are considering using one. A good real estate agent will help you navigate every step of the process and connect you to other professionals such as an inspector, lawyer, mortgage broker, or lender.

You'll need to monitor your spending habits and their impact on credit reports. Do not take out large loans as they can lower your credit score. They also could affect your debt-to-income ratio, which is calculation lenders use to determine your eligibility to borrow. Your ability to obtain financing may be affected by any major changes in your employment or income.

It Takes 4-5 Months To Buy:

  • Look online for homes to buy

  • Define your needs and wants

  • Hire a real estate agent

  • Track your credit and spending habits

Pre-Approved And Begin Searching

Engage a mortgage broker or lender to help you navigate the financing process and find the right lender. Have your chosen lender pre-approve you so that sellers know that you are serious when making an offer. You will need bank statements, tax returns, and pay stubs to be pre-approved. Pre-approval letters can be used for between 60 and 90 days.

Set up saved searches online to be notified of new properties that match your criteria. Your agent should also search the local MLS to find homes that are available for you. After you have found the homes that you are interested in, your agent should set up showings.

2 to 3 Months Before Purchasing:

  • Request a pre-approval note

  • Online search results can be saved

  • Start scheduling showings


Make an offer once you have found a home that you love. It is possible that your offer will not be accepted immediately. On average, agents submitted four offers per client over six months. 13% submitted six.

If they respond, you can either accept their offer immediately or negotiate terms and prices. Then, after everyone has signed the contract, the purchasing process will officially start.

Take 1-2 Months To Buy:

  • Find the perfect home

  • If necessary, make an offer and negotiate

  • Sign the contract

Finalize Your Plans And Complete Post-Contract Tasks

Your lender will establish various checkpoints during the 30-to 45-day contract period to allow their underwriters to approve your loan. These will include a home inspection, appraisal, and additional documentation. The process can take longer if you are applying for an FHA or VA loan. This may require additional paperwork. In addition, further verification may be necessary if you have had any changes in your income or credit since being pre-approved.

Make An Appointment For The Inspection

Your inspection should be scheduled as soon as you are able after signing the contract, ideally, within one week. The purchase and sales agreement will specify when your inspection must be completed. Usually, this is within ten days. All inspection-related requests such as asking for repairs or credit have a deadline.

These homes have been recently inspected and updated, so you can purchase with confidence and speed up the process.

Prepare For Your Move

You can also contact your local moving company now to schedule your move. It is important to file a change of address request at the post office. Also, do your research about how utilities will be set up in your new residence.

You should notify your landlord if you are renting. Usually, this is at least 30 days.

Keep In Touch With Your Team

As your loan details are finalized, keep in touch with your lender. Send all documentation promptly. Your preferred provider of home insurance will also be required to inform your lender. Your attorney and real estate agent should also be informed as you finalize your loan.

Less Than A Month:

  • Hire a home inspector to inspect your house.

  • Get homeowners insurance

Move Into Your New Home

You'll perform a final walkthrough of the house to inspect its condition. This can be done either the morning before or the evening before closing. This is particularly important if repairs were requested after the home inspection. The next step is to go to the title company to sign your closing paperwork. This could take several hours, depending on how complex the deal is.

Closing Week:

  • Final walkthrough

  • Sign the paperwork

  • Grab your keys

bottom of page