Inspections and Time Frame

After the seller accepts your offer, it is essential to have the home inspected by a professional to gain an understanding of the condition of the home. Be sure to include inspection and mortgage contingencies in your written offer.

As a homebuyer, you may hear the term “in escrow” during the home-buying process. This typically lasts for about 30 days, but the duration may vary. It is during this time that all the terms outlined in the contract must be fulfilled to everyone’s satisfaction. Once you and the seller have agreed on the closing date and contingencies, the escrow process begins. As the transaction nears completion, the title company will provide you with a closing statement. This statement will include all the financial details related to your home purchase.