Real Estate Purchase Timeline
While every Real Estate transaction is different most follow a similar timeline. A typical real estate transaction takes about 30 days from start to finish. Below is a general outline of a real estate purchase. If a buyer is financing, a pre approval letter and/or a preliminary loan paper work should be completed prior to writing an offer.
Day 1 Offer accepted and escrowed.
Day 1-10 Option/Inspection period begins
Day 11-21 Appraisal is ordered
Day 11-25 Title work in received
Buyer obtains property Insurance
Day 26 Contact Utility Providers
Day 29 HUD statement is reviewed
Day 29 Buyers walkthrough
Day 30 Closing/funding