How Long Does It Take To Buy A House in Dallas?
So, you decided to buy a place to call HOME! Congratulations!
The Dallas-Fort Worth area is a vast and diverse metropolitan region that offers something for everyone. From the bustle and excitement of city living to the laid-back country lifestyle, there’s a perfect home waiting for you in the DFW area.
When you are buying a home, the process can seem daunting. There are many things to consider, and it is important to be as prepared as possible.
In this article, we will focus on the time frame involved in buying a home.
Average Time For Home Shopping
On average, people spend 30-60 days shopping for a new home. This includes looking at different properties, making offers, and going through the mortgage approval process.
Average Time From Contract to Close
Once you have found the perfect home and made an offer that has been accepted, it typically takes another 15-60 days to go from contract to close. This varies depending on the state of the housing market and how quickly the seller can prepare for the sale.
Average Time For Entire Home Buying Process (find and close)
If you are a first-time homebuyer, or are relocating to Dallas, it is important to factor in extra time for the process. It can take longer to find a new construction home than it does to buy an existing property. And if you are looking in the Dallas area, you will want to allow for additional time due to the high demand for housing.
Bottom line:
On average the entire process of buying a home typically takes 45 – 120 days.
Be sure to factor in extra time if you are a first time buyer or are relocating to a new area.
Did you know? Mortgage is One of the most time consuming elements in the home buying process.
The mortgage process can be a very time-consuming element (20-30+ days). However, with proper planning and organization, it can be managed effectively. It’s important to work on the mortgage before even beginning to shop for a house. It is crucial to have all required documents ready – including W2s, tax returns, copies of identification and social security, and bank statements. This will save valuable time once the home contract has been signed.
In addition, it’s essential to communicate with your lender regarding how much home you can afford to avoid any potential financial stress. Before making an offer on a home, request a loan estimate to better understand your possible monthly payments and closing costs.
Finally, it’s wise to prepare for an appraisal coming in lower than expected and having to pay the difference should the seller refuse to lower the price. Also, make sure you know about Do’s and Don’ts After Applying for a Mortgage To Get Final Loan Approval
Making these preparations can ease the home-buying process and ensure a smoother closing.
Looking to buy a home in the Dallas-Fort Worth area?
Call/Text 214.940.8149
As your Realtor®, I want to help you find the perfect home, whether it’s a new construction home or an existing one. If you’re a first time homebuyer, or relocating to the Dallas area and need help finding a new home I’ll guide you through the process and help find the best home for your needs.
Check out my other articles for more helpful information about the home-buying process.
For many, buying a home for the first time can seem like a daunting task. Rest assured, it doesn’t have to be, and I’ve got you covered! Being a confident home buyer starts by understanding the simple basics and increasing your awareness of what to expect during the home buying process. Once you become an informed first-time homebuyer, you will reduce your stress, increase your confidence, and be one step closer to owning your first home.
Get your home buying jump-start right now by checking out my other articles linked below.
– The Process Of Buying A House in Dallas Texas
– How Long Does It Take To Buy A House in Dallas?
– Professionals You Deal with When Buying a House
– 6 Reasons Why You Need A Realtor® To Buy A Home In The Dallas Area
– Pre-qualified vs Pre-approved
– What Documents Do You Need To Apply For A Mortgage?
– Do’s and Don’ts After Applying for a Mortgage
– What Happens Next After You Sign a Home Purchase Contract?
– Closing on a Home in Dallas Texas – What to Expect and How it Works. Step-by-Step Guide
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Latest from Dallas Real Estate Blog
The Buyer’s Agent Duty
READ: Texas Real Estate Commission Information About Brokerage Services
AS AGENT FOR BUYER/TENANT: The broker becomes the buyer/tenant’s agent by agreeing to represent the buyer, usually through a
written representation agreement. A buyer’s agent must perform the broker’s minimum duties above and must inform the buyer of any
material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or
seller’s agent.
A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):
– Put the interests of the client above all others, including the broker’s own interests;
– Inform the client of any material information about the property or transaction received by the broker;
– Answer the client’s questions and present any offer to or counter–offer from the client; and
– Treat all parties to a real estate transaction honestly and fairly.