How Long Does It Take To Buy A Lewisburg WV Home?
The time of year, your financing plans, the type of property you want, and the availability in your local market can all impact your home buying timeline. Homeownership is an exciting and life-changing experience.
The average time it takes to buy a Lewisburg, West Virginia home is four and a half months. If you’ve signed a deal, you’ll have 30-45 days to complete the transaction.
Buying a home is a significant financial investment, so you must do your homework first. Read on to learn more about buying a Lewisburg WV home.
How Good Is the Lewisburg, WV Real Estate Market?
Lewisburg, WV real estate market, particularly its home values, are trending up at 10.3% year-over-year. Real estate in Lewisburg also meets your everyday needs. With hundreds of grocery stores, cafes, and restaurants, you won’t run out of options in Lewisburg.
Real estate is one of the best investments available today. It is a safe and valuable investment that will benefit you for many years. Once you choose the right property, you’ll never regret it.
[tcb-script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″][/tcb-script]Knowledge Is Power on the Path to HomeownershipHomeownership is on the goal list for many young adults, but sometimes it’s hard to know exactly how to get there.https://t.co/voosmIrLTU #PathtoHomeownership #knowledgeispower
— Rebecca Gaujot (@RebeccaGaujot) May 1, 2021
Here are some of the most time-consuming stages that can add to the length of time it takes to buy a home. Fortunately, you can complete the home buying process faster if you can navigate these stages the right way.
1. Searching for and Locating the Ideal Home
You want to find a perfect home for your family. If there is a low supply of houses that suit your requirements, though, it can take a long time. Luckily, there are plenty of homes for sale in Lewisburg, WV. A realtor in Lewisburg will have a substantial list of available homes for you to consider.
2. Acceptance of an Offer
You may get in a situation where many people are bidding on the same property. You may have to make several offers on several different properties before one is accepted if this happens. You may also find your offers get rejected if you’re buying with a loan, and you’re up against many cash buyers. According to the survey, 15% of buyers said they had experienced difficulty getting their offer accepted on a home.
3. Taking Part in Negotiations
It will take time for a buyer and seller to reach a satisfactory agreement with all parties. It can take a long time to go through several counteroffers, negotiate fixes and appraisals.
4. Pre-Approval of Loans and Financing
Cash payment can speed up the home-buying process, but it takes time to get pre-approved and get the loan underwriting and appraisal done if you’re financing your purchase.
What Is the Quickest Way to Buy a House?
There is no set time limit for purchasing a house, but buying with cash will speed the process up. That being said, there are a few things you can do if you’re financing a home and want to make the process go as fast as possible.
- Start house hunting early.
- Complete paperwork as soon as possible.
- Schedule your review as soon as possible.
- Make sure your agent is in contact with the listing agent at all times.
However, some processes are out of your power. Examples are the complexity of the underwriting and title transfer procedures and the loan approval timetable.
[tcb-script async=”” src=”https://platform.twitter.com/widgets.js” charset=”utf-8″][/tcb-script]If you’re interested in buying but aren’t sure where to begin, here are three key concepts about homeownership you should understand before you get started!https://t.co/4DIOD9rW6v #LewisburgWVRealEstate #RebeccaGaujot #LewisburgWVHomesforSale pic.twitter.com/gtba9IpRvf
— Rebecca Gaujot (@RebeccaGaujot) August 4, 2021
Even if you immediately find the perfect home, working out a deal with the seller and other processes, like documentation, will take some time. Knowing all the steps involved in buying a house will help you plan to move forward with the process.
1. Begin Your Financial Planning
Start saving for your down payment as soon as possible if you haven’t already. Down payment is usually 20% of the asking price on a home. Also, since purchasing a house will incur extra costs, set aside 2-5% of the price to cover closing costs at least 6 months before you begin looking for a home.
Examine your credit history ahead of time. If necessary, see what you can do to improve your credit score. This will often get you a better interest rate. Request copies of all your credit files, then begin paying off your credit card bills and correct any inconsistencies or irregularities.
2. Familiarize Yourself With Your Target Market
Begin looking for homes for sale in Lewisburg, WV. Go to open houses and narrow down your must-have list, like homestyle, features, and neighborhood.
You’ll need to get to know the best realtor in Lewisburg, WV, who can help you with the transaction. A good realtor will guide you through each step. They will also introduce you to other professionals, like an inspector, lender or lawyer.
3. Get Approved
Choose a lender to help you navigate the lending process and find the best lender for you. Set up saved searches online if you haven’t already. This will alert you when new homes that meet your requirements hit the market.
4. Make a Proposal
Make an offer once you’ve found a home you want. It’s important to remember the seller might not accept it. Each party will sign the contract if the offer is accepted, and the purchasing process will begin.
5. Finish All Escrow-Related Activities and Plans
Your lender will set different checkpoints over the 30-45 day escrow period. This enables their underwriters to accept your loan. It will likely include things like a home inspection, valuation, and paperwork requests.
6. Sealing the Deal
You’ll do a final visit before closing to check the state of the house. If you requested repairs after your home inspection, this is crucial. You’ll then go to the title company’s office to sign your closing documents. This could take a few hours, depending on the deal’s complexity.
In reality, it’s tough to know how long the process will take when you buy your dream home. Good thing now is you’re more knowledgeable on the steps we need to take. And, we can count on our trusted realtor to help you secure the biggest financial decision.
How to Find the Perfect Lewisburg, WV Home
The first move to find the perfect Lewisburg, WV home is to find a knowledgeable and trustworthy realtor. With the aid of a real estate agent, though, the process does not have to be long. Using an expert will ensure you get your dream home in Lewisburg with minimal effort.
Final Thoughts
Buying a house is a significant financial decision. Acquiring a property can be challenging and stressful. Fortunately, with the best realtor, you can find the perfect Lewisburg, WV home in no time.
Don’t pick just any real estate agent on a whim if you want a quick and reliable home search in Lewisburg. Look for a broker with a reputable record and a trustworthy background. Now is a great time to look at our Lewisburg WV homes for sale!
Call me, your Lewisburg, WV Top Realtor, Rebecca Gaujot, at 304-520-2133. I’d be glad to assist you in discovering your future home.
