Friday, August 30, 2013

Timeline - First Time Home Purchase

Purchasing a home is such a meticulous process, especially since we were first time home buyers.  I did tons and tons of research before we made an offer, as well as while we were waiting to close.  Through my numerous google searches, the most common thing I found was that the process can change to some extent depending on the buyer.  With all of the answers I received, I literally became more and more confused about what would likely happen.  So, I decided to keep a detailed list of how the home buying process worked for us.

6/28/2013 - Looked at the house
7/3/2013 - Made an offer
7/5/2013 - Submitted application with bank
7/7/2013 - Agent called to say seller accepted
7/8/2013 - Received copies of signed purchase contract
7/9/2013 - Received disclosures from bank
7/10/2013 - Sent signed disclosures back to bank
7/10/2013 - Received pre-qualification letter from bank
7/11/2013 - Received and signed Interest Rate Lock-In Agreement
7/12/2013 - Sent the signed Interest Rate Lock-In Agreement
7/12/2013 - Received new TIL disclosures for locked interest rate
7/16/2013 - Sent the signed TIL disclosures back to bank
7/18/2013 - Received call from agent to schedule inspection
7/18/2013 - Sent copy of Graham's first pay stub to lender
7/19/2013 - Sent most recent copy of my pay stub to lender
7/22/2013 - Home inspection completed
7/22/2013 - Received inspection report via email
7/24/2013 - Met with agent to discuss which parts of inspection needed to be addressed
7/25/2013 - Lender told us we would also need to have 3 months cash reserves in savings. Saving away!
7/29/2013 - Received our approval letter from the lender
7/30/2013 - Paid appraisal fee to lender
7/30/2013 - Sent Graham's second pay stub to lender
8/1/2013   - Sent most recent copy of my pay stub to lender
8/2/2013   - Sent up-to-date print out of bank account info that includes recent deposits to lender
8/7/2013   - Signed agreement containing the items the seller is correcting from the inspection
8/7/2013   - Started getting insurance quotes!
8/12/2013 - Survey completed
8/14/2013 - Appraisal completed
8/15/2013 - Sent copy of Graham's most recent pay stub to lender
8/15/2013 - Sent copy of my most recent pay stub to lender
8/20/2013 - Lender told us they received the appraisal report - file is in underwriting now
8/23/2013 - Chose an insurance company
8/26/2013 - Received a copy of the appraisal report
8/27/2013 - Received HUD Statement
8/27/2013 - Purchased the cashier's check for our settlement amount
8/27/2013 - Final walk through with realtor
8/28/2013 - Went to the final closing
8/28/2013 - We are officially home owners!!


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