Home Buying Process steps

OK - here is where DH and I are at:

-made an offer
-offer was accepted
-currently in attorney review
-locked in mortgage rate

what's next? inspection? can the seller only back out during AR? (i am praying they won't! )

after all that, then the closing?

Is your closing date within 60 days of when you locked in the rate?

Have you signed the contract yet? And have you received the contract back with the seller's signature?

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Posted by Misha

When you say attorney reviewing, does that mean you have signed a contract? Usually the next step would be to get the engineer in to inspect. After the inspection, the contract is drawn up. Until the contract is signed by both parties (buyers and sellers) then either party can back out. Once in contract an appraisal will need to get done for the bank, usually your mortgage broker sets that up. In your contract is a clause that says closing to occur on or about xxx date. The actual closing can take place any time 30 days before to 30 days after that date. Good luck!

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Thanks! My DH and I signed the contract and so did the Seller. Our attornies are both reviewing it now.

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Posted by jagrawal7

Is your closing date within 60 days of when you locked in the rate?

Have you signed the contract yet? And have you received the contract back with the seller's signature?

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Yup both signed. Locked in the rate yesterday and closing is supposed to take place by 6/15.

We are at the same exact step as you. We sent the contract to the mortgage person yesterday. They are reviewing our documents now. Closing date is June 1st. Hopefully it wont change.

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Posted by Valentinegirl

We are at the same exact step as you. We sent the contract to the mortgage person yesterday. They are reviewing our documents now. Closing date is June 1st. Hopefully it wont change.

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yay

Thanks Misha!!!!!