A Timeline for Buying a House (First Time Home Buyers)

hello everybody and welcome to another

real estate video this is Xavier vadhana

and today's video is once again not

necessary to something too complicated

or complex sometimes I like to sit back

and really you know try to come up with

some interesting topic that most people

don't know really don't understand but a

lot of times it's the basic stuff that

gets missed out up for some reason

Realtors don't like to sit down and talk

with their clients that just simply

explain the timeline of the transaction

so in today's video I'm going to discuss

the timeline of a real estate

transaction from the moment you decide

to buy a home to the moment you get the

keys a disclaimer before I begin and

this is just my experience that I've had

with my clients in the past five six

years this isn't the contract or what's

a the official timeline of a buying a

home every realtor does things

differently and if you have bought a

home before and I'd love to know what

was different about your experience this

is just a timeline that usually has

happened when I have a successful

transaction for a buyer so let's begin

buying a home can be broken down into

three parts and there's one significant

moment that happens between each part

that glasses you to the next part almost

look like a level right your first level

if you would is going to be your idea

face you know this is where you come up

with the idea of maybe I should buy a

home unfortunately some people decide to

think of it as this is the where I'm

going to buy my dream home and they

decide to wait years and years and later

when they have an established career and

and they decide to you know really

prolong it and I talked about this one

on my video why you should buy a home in

your 20 so if you haven't watched that

video I greatly recommend it where I can

talk about a lot about this in that

video but anyways this is where we

finally make the decision to buy a home

now you could be and this is a stage

where maybe on maybe you're


maybe you're going to a Realtors website

already you're kind of browsing around

looking for homes getting an idea you

might stop at an open house or something

like that but this isn't this is just

getting your feet wet right you're not

actually getting ready to buy a home and

this is where a lot of Realtors make the

mistake of really aggressively chasing

these people this is just you figuring

out if it's time to buy this is where

you get thoughts like well am I gonna

really get myself into a 30-year

commitment am I really gonna be doing


gonna be doing that eventually one

decides you know what I'm gonna take the

leap I'm gonna make the decision I'm

gonna buy a home and that's your

significant event that happens that

makes you to go to the next step when

you finally decide I'm going to buy a

home I'm gonna do it who cares what gets

in my way I'm gonna get it done

this decision was one progresses you

into the second point which is your

hiring slash looking for a home stage

now a lot of times in the perfect role

do you already have your realtor you

already have your lender everything's

ready to go but the first part of this

is your hiring state you have to find

out who's going to help you buy a home

now I'm gonna make a specific video

about this about buying a home and

choosing a realtor what not and

obviously I'm trying not to be biased

here right because every realtor doesn't

matter what their slogan is guys every

realtor things are the best so it's

really hard for people especially

consumers to try to really find out what

is the best option for them so and I'm

gonna leave this for another video but

let's just say in this stage you do get

to hire your realtor a lot of times what

happen is you find your realtor first

and when you find a realtor that you

like they usually have lenders that

they're gonna recommend you get

pre-qualified with you could choose your

own lender if you have a referral maybe

you have a bank you trust but just keep

in mind that a realtor is using the

lender not because they're getting

incentives or anything like that they're

using that lender because that lender

has successfully helped buyers in the

past that they've recommended and not

only that but these lenders are working

with these Realtors have more of an

incentive to do a good job for them

because they know that you know they

have a long relationship the

long-standing relationship that if they

don't treat you right or they're not

able to close the deal for them that

they're gonna stop working with them and

they're gonna lose that source of

clientele right so it's kind of a nice

incentive when you work with the realtor

and the lender that work together but if

you have you know if you find two

different ones and that's totally fine

and it's in this when you talk to a

lender where you get your

pre-qualification form this is where you

guys should take a step back and really

figure out the data they can't give you

exact numbers of your monthly payment

because you need to find the actual

house first however you can meet up with

the lender and make sure to get all

these details such as what is my closing

costs going to be or at least an

estimate of them what is my monthly

payment gonna look like yes I know you

can't give me

exact number but give me a range this is

the area I'm looking at this is the

taxes in this area you know what or

maybe other buyers that you had is I've

got a similar loan and you got a similar

area you know what was their payment

what's gonna be my interest rate what's

gonna be my down payment what's gonna be

what kind of program I'm using get all

that information now because this is

where a lot of people don't really

bother asking and they get a house and

then once they're locked in they finally

find out all these details and by then

they feel like it's too late to actually

change out right so once you get your

free qualification then you can

literally start looking for your home a

good realtor in my opinion would then

take this time before you actually go

look at a house to sit down with you and

explain the real estate procedure a lot

of my clients who have worked with me in

the past and are going to work with me

have to do this it doesn't matter what

happens as soon as you get pre-qualified

we're gonna meet in my office so I good

realtor I believe should do this because

it will answer a lot of questions you

might have down the road and kind of

like A to B is now you start looking for

a home right this is where a lot of

people unfortunately get stuck and they

never move on to the next step

looking for a home is not no easy task

and a lot of people usually asked well

how long is it gonna take for me to buy

a home well this first half of what I

talked about doesn't take that long what

does take long is looking for a home and

once you find the home then your escrow

process usually looks 30 to 45 days we

know that's 3045 days of closing at home

but we don't know how long it's gonna

take you to find one they could take a

week it could take a few days but it can

also take a few months depending on how

picky what kind of inventories on the

market etc etc and you shouldn't say oh

I need to buy a house down to buy a

house as soon as possible so I'm gonna

just find something you shouldn't do

that a home is going to be an investment

that you're gonna have for a little bit

so you should have be too picky I mean I

mean I guess there's no telling you not

to be picky but you kind of have to be

you know you don't just rush into it you

want to make sure you find to a home

that you kind of like my thing with

clients is when I show them a house I

always ask them from zero to ten what

would you rate this house 10 be the best

house ever being always okay great this

they say is six or seven I usually tell

people your first home is always gonna

be about a six or seven that but as long

as it has the potential to be made into

a nine or ten then it's the home for you

if it's a six or seven and even after

you change certain things it's still

going to be a seven

probably not the right fit when you

finally find the home you like and you

make an offer and not only do you make

an offer but it gets accepted because

getting an offer accepted is a it's a

complete different challenge it just

challenges just making an offer then you

get to move on to the next step which is

your third and final step which is the

escrow process when you're in the escrow

part you're almost in the homestretch

right you finally found the home you

like you have an offer accepted in most

cases the seller can't cancel unless you

breach contract so an escrow typically

would take 30 to 45 days there are some

letters that say they can do 1520 days

and they're super rushed I recommend you

sweet hit that sweet spot about 35 days

you just never know what might pop up

you never know you know if there were

issues at the inspection that requires

additional inspections or the appraisal

not appraising so that's of additional

repairs all the stuff that you can't

predict so thirty thirty to forty days

is a sweet spot that I try to hit also

this is just specific to Arizona so

check your area your first 10 days is

your inspection period this is your time

to inspect a home make sure you know

everything fits your mold check the

school districts check sex offenders in

the area check online for termite

information do your home inspection if

your home inspector really kind of you

know it's a general inspection but if

they say well they seem to probably need

some work then get an AC inspector get a

termite inspection this is your chance

to do as many inspections as you want

yes a home inspection will probably

cover the majority of things but if

you're not comfortable with maybe

there's something that leaves more

detailed then get an additional

inspector and ask them what they think

and see what fits worth it now

particularly to Arizona you could ask

for repairs and whatnot I'm not going to

get into it right now but I'm gonna

defer you to my other video on how to

deal with the bad inspection when

dealing with a home that has a ton of

meaning a ton of repairs whatnot so

watch that video if you haven't but this

is your time to do what you need to in

Arizona this is the time where if

there's something that you find that you

don't like you could cancel and you will

get your deposit back so keep that in

mind and make sure to find you know

really really do your due diligence

because after this ten days it'll be

tougher to cancel and get your deposit

back usually during the inspection you

order the appraisal the appraisal is a

banks way of sending a third party to

verify the actual value to the home if

you made a house if you had a me that

you can make an offer for a million


in a home but the bank goes out there

and says this house is only worth two

hundred thousand and that's all they're

gonna loan you so they're gonna send a

third party out to valuate the home they

do check it's up to code per lending

guidelines and whatnot so they you know

they verify those items but usually

they're more there to check the value

you usually get it between days 10 to 20

of the current contract you know in the

perfect scenario you might get a day 16

day 15 of the contract and then if you

know there's two things that could

happen you can come in great and you

just move on or if it can come in lower

then you have to do some negotiations

with the south I'm probably the first 20

days or you're the lender is asking you

for paperwork like pay stubs and

additional documents and bank statements

they're cut get ready they're gonna ask

you for a lot of bank statements they're

gonna ask you for all that fun stuff but

day 20 to 30 is when they're dealing

with the final approval your loan is

probably gonna be an underwriting

already but now that they have the

appraisal they're trying to get you to

get a full loan approval and once you

get your clear to close loan approval

which hopefully is about day 27 because

they need to have those box that title

by about three days before close of

escrow then you're basically going in

and signing a lot of people sign a few

days before the actual closing date or

some people sign the day of which is

super super super stressful what it

happens we are signing between the last

five days and using the last five days

you're gonna do a walkthrough of the

house and make sure they nobody broke in

and damaged anything nor if they're also

gonna mimic and they're also gonna check

that the repairs that you requested

actually got done and all that good

stuff so that's about the timeline once

you're signing and you know you've

signed in one night especially in

Arizona at least you sign and then the

seller signs and then the funds get

there then they sent it out to record

and once it records you re officially a

homeowner and then you gotta meet up

with the agent to get your piece that's

it it's a very rough timeline I'm I

always tell my folks that when it's time

to buy a home and you're pre-approved

we're gonna meet up in my office and

give you a really detailed one but

that's just the very brief one for any

people that are on the internets and

their prospecting or just getting an

idea so if you have any questions please

let me know below and of course if

you're all looking to buy or sell a home

in Arizona please go to my website

Xavier V Dania or you can scroll down

there click a link and you'll leave

you to my home search website you can

also learn a little more about me what

I'm about what my story is

etc if you are in another state I'd love

to help you in any way I can if you

don't have a realtor I have a really

good knack of finding good Realtors so

let me know where you're from I'll look

up and see if I can find a good realtor

for you and before I leave once again

thank you so much for all my subscribers

you guys Rock if you haven't subscribed

we make weekly real estate educational

videos here to help you accomplish your

home goals but I'm always to say this

YouTube is the future I honestly do

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in sales in general I can make videos on

Facebook on and you know they use

YouTube they I'll put it on YouTube and

then they share it on Facebook or

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I am a huge believer in you to be in the

future and I'm very happy that my

business is not being adapted with you -

I'm getting people who are reaching out

to me and saying hey I like the way you

talk to your videos I want you to help

me by I'm really blessed for that and I

really do think that I want to keep

doing this for a long time so thank you

guys very much I appreciate your time

and if you have any questions let me

know below thank you