Estimating How Long To Find And Buy A New Home
Finding a new home in Markham is not always easy. Some people look for a very specific set of features at home combined with a convenient location. It takes years for people like this to find the right home. Alternately, someone who is lucky or who doesn’t care about a rigid list of features can find a new home in just a few days or weeks. Consulting with a Markham real estate agent will significantly reduce the amount of time needed to find a new home. The amount of time needed to buy a new home becomes a little more predictable once the property has been found. Several stages of the home buying process will require time and patience.
Negotiation
The first thing that usually happens when the right house has been found is price negotiations. A Markham real estate agent can make this process easier than dealing directly with property owners. Negotiations usually involve an offer from the buyer and then a counter offer from the seller based on other offers that have been received. This process can take anywhere from one day to one month depending on how many potential buyers are involved in the negotiations.
Financing
Placing financing can be one of the most time-consuming parts of the home buying process. Usually it is best to hire Markham real estate agents who will help buyers become pre-approved for financing. If initial approval is not possible, then it takes from one week to several months for lenders and brokers to approve financing for a home. Costs and deposits usually need to be handled during this time.
Assessment
The lender or the bank usually wants to value the house as part of the financing process. Assessment means that trained inspectors will go out of the house and assess the … Read more ...
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