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How long Does It Take To Buy A House in Nashville?

Mar 14, 2024
How

long

does

it

take

to buy a home in the Nashville, Tennessee area? With our spring real estate market really hot and over a hundred people a day showing up here in Nashville looking for a place to live, that's the information you need to know, that's what we're talking about today... how

long

does

it

take

to buy a

house

in Nashville; come on! Welcome back, what is the timeline for purchasing real estate? How long does it take to buy a

house

in Nasahvillr market today? Those are great questions, each situation, each person is different, but there is a basic schedule and that is what we are going to talk about;
how long does it take to buy a house in nashville
What to expect on your timeline in the home buying process! I'm Susan Thetford with Parks Properties, a real estate agent here in the Nashville, Tennessee area and a Nashville native. I am one of the few remaining "unicorns" who are native. I want Nashville to be a place where it's easy to come live and make it your home, too. If that's something of interest to you, I encourage you to like this video which will tell YouTube: This was valuable information. Also go ahead and "subscribe", hit the subscribe button down there. Go ahead and subscribe... you'll be notified every time a new video appears, which is weekly!
how long does it take to buy a house in nashville

More Interesting Facts About,

how long does it take to buy a house in nashville...

So I get asked this question all the time, actually, how long will it take to get my house right? When someone asked me that question, they're usually already a little bit under that timeline, as I mentioned, there's a timeline for buying a home. Phase one is just deciding that you want to buy a house and that can take, I don't know, four months, a month a week for years. I think if this phase one is almost like dating, when you start dating at 1415, I was a late 16 you. You're not thinking about getting married, you're just thinking about having a good time when you start to get the first hint that maybe next time you'll buy a house.
how long does it take to buy a house in nashville
You may go to a lot of open houses. You may come through Zillow. You may be searching. you're looking at magazines all the time you're not really seriously thinking about buying a house, this phase one is just a phase one now, it may well be that once you've been in Nashville for a while you'll realize that I love this place, but you are renting the rent is not cheap the rent here is very expensive and there were a lot of people moving here the weekly rent is getting more expensive it is possible that the landlord has decided to increase the rent for next year and you have decided that it is ok - 2500 3500 I'm wasting my money, it's time I get serious about this, then you might move on to phase 2.
how long does it take to buy a house in nashville
Your bet is as good as mine on how long phase 1 will last, so here we are in phase two. Phase two. Are you serious. Think about it again as David, this guy, Dave, this girl, and you seriously think I don't think she's the one I want to marry you, now you're deciding you want to get here, you've decided to buy a house, I'm leaving. To invest in a home, phase two should start with going ahead and getting the loan approved, choosing a real estate agent, you will have one. I highly recommend it and find a lender now, if you work with the real estate agent, a real estate agent will suggest a couple of lenders that they work with constantly and it's not like we get kickbacks, it's not like someone pays us money to recommend them, It's nothing more than our experience tells us that this lender is good at what they do, they can complete a sale happily and comfortably with as few hassles as possible.
This is an amazing lender. He has done this for me time and time again and I want to help make this as easy as possible. Your good real estate agent should be able to recommend you to two or three. Talk to them. Sit with them. Speak in it. On the phone you will at least have an idea of ​​who you are most comfortable with because, frankly, you will have to lay everything out there to get that loan. You've exposed it to someone who probably knows what a loan approval will entail. What you need to do is when you sit down with that lender, you give them all the information that you know about your salary, your income, your savings, your retirement, all the things that look at your financial picture and basically you have that outline under the which he can tell you okay, based on this information, here is the asking price, here is the valid price range that you should consider to buy a house based on your income, based on your down payment, based on many things, can give you a rule general of where you should be looking now, that's when you should sit down with your real estate agent and talk about the entire timeline and what to expect.
Now let's look at homes within this price range, this is when you really come down to a list of things you want in a home your wish list is the things you want in the home based on the pre-approval amount your lender suggests. . Your real estate agent will take into consideration the approval amount that your lender suggests you may be approved for and then we will put together the list of things you said you need to have in your home and find the best options to meet those needs. I want to share them with you first-time buyers, especially you.
I'm not going to find the perfect house number 10. I will make a video on why real estate agents call us all buyers, buyers are liars and I will tell you when I bought my first house. I will tell you about that experience in another. video, but when it comes down to it, what your money will allow in your purse will define how much on that list you could have in a given area, those things are all the fun we have. Real estate agents can't invent just for the sake of it. things you want, we have to go within those parameters for first time home buyers, if you find something that is a six or seven on your wish list of ten perfect things and it has the potential, maybe it will become a nine or a ten if it can become something. gives it a 10 if that's what you're looking for as a first time buyer especially go for that six or seven it has potential so in phase two this could take you a week two weeks four weeks five months in our market right now.
I promise you this if you're especially a first time buyer: it's very, very competitive at anything under 400,000, it's super comparative, so if you're still looking and you're that picky, being a nun or a renter has to mean everything. those things I suggest you look back and say: do I really want to buy a house? because what's going to happen and I've seen it time and time again, we're appreciating pretty quickly if you haven't found something in six months to a year you may not really be a buyer you're back in phase one the market will outgrow your money .
I have seen this happen with three of my buyers. I had to go back to him and just tell him I don't think you're a buyer yet or phase one, okay, they really wanted to be there kicking themselves now because they keep thinking that the perfect house will happen, it's not at any price. I'll give you an idea. I also have two million dollar buyers. who are looking for that perfect ten Phase two ends with the search, an offer on a house and an accepted offer on the house, when you get to all those things, then you get to phase 3, phase 3, you think, oh God, now we almost arrive.
Well actually you're almost there, I can usually now tell you what timeline it will typically take 30-45 days to complete the next steps to finally have those keys in your hands. You have the offer. Offer is accepted from time to time. It's Nashville and this is a good offer, a typical offer, everything is a little different, you have seven to ten days to do the inspections, this is all written in your offer, the period of the inspection clause and your time to Have an inspector check the heating. and air plumbing fixtures, roof, anything you want to inspect, that's your time period to do it, about ten days, then you have a couple of days for resolution, the next step is during that period, you've also paid, Go back to your lender. and you have given him your contract, now contract accepted, he can give you a good faith estimate exactly now that you know the taxes, now they know the insurance, now that you know the homework solitary rates, now that you have a specific house in mind.
He can give you every detail of what your monthly payment will be. You will also pay for your appraisal if there is a loan, so the first 10 days are usually an inspection period. It is also when you get your appraisals that you review your owner's documents. You're going through all of that for a total of 20 days. Your lender is now asking for more paperwork than you can imagine. They'll want tax returns. They'll want pay stubs. They'll want all of your bank accounts. We've got it and they want to see where the money is coming from. where it has been, how long it has been there, look it will frustrate you, be prepared, they need to know everything during this period, plus the appraisal will be completed, so now we have received.
We've gone through the inspection in the first 10 days, we've gone through the appraisal and the appraisal came back good, that's within the next first 20 days of that inspection of that escrow period, third phase, a couple of days before of the closure. do a walk-through, a final walk-through, that walk-through is to make sure that the house is in the basic condition that it was in when you bought it and that all the inspections that you did were even, that you applied for and were accepted, all those repairs are completed and done. Hopefully it will be on the first day before closing again, everything is negotiated in your contract.
Any final documentation your lender wants before final approval will arrive in that last 10 to 20 to 30 day period, as well as sooner than required by law. Now you should have your final paperwork three days before closing so you can even find all that paperwork three days before closing. Well, you can see it and you have the right to see it and review everything to make sure it is exactly how you and how you prepared it. actually close the sale transfer the money and you are almost there you are almost there you almost have those keys but it is not necessary to transfer the money yet all the documentation must be signed, crossed and registered once it is registered then those keys are yours the house is yours and you have forgotten about ownership so I will say it is very imperative to work with your real estate agent again to talk things through, do your best to close the closing in the morning because if all that documentation and paperwork are not completed and if the transfer does not go through, the money does not go through and if you cannot register before 3:00 p.m.
On the day of closing you still don't own the house until it's registered, so there you have it, there are actually three strict phases to owning a home, to getting that house, getting your hands on those keys, the first, I do not know how much time. it will take each one is different the second I still don't know how long it will take you can look for a week you can look for a month you can look for five months or a year the third has some pretty strict deadlines and That will be 30 to 45 days once I have a house under contract, it's now ready to race, so I hope you find it useful.
If you are considering purchasing a home here in the Nashville, Tennessee area, you may want my home buyer's guide. or watch this video. I know it will be helpful in finding the best neighborhoods in Nashville for you. If you are considering moving to Nashville, check out my actual guide or the guide below. I know it will help you learn about different areas of the city, do you really want to be in the middle of Midtown Nashville or do you want to be in an outlying area maybe Madison or Murfreesboro? Do you want to be near the water?
You have many options. Check out that relocation guide. Believe. It will help me, thank you very much for joining me, if you can see that I have a lot to do right here, I myself am preparing to move, it is a difficult process, but it is worth it, so please, soon. We will see different backgrounds, a different home and I think every real estate agent should go through this every few years to remember how much work there is to do and how stressful it can be for people, but it's worth it, I hope to see you soon.
I'm sure you'll love it, subscribe to my channel, ring the bell so you don't miss anything and we'll see you next time.

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