Timeline at a Glance
Most transactions close 30-45 days after a purchase contract is signed. That sounds like enough time until you realize what has to happen within those weeks.| Milestone | Typical Timing |
|---|---|
| Earnest money due | 3 business days after contract |
| Inspection contingency expires | 7-14 days after contract |
| Appraisal completed | 7-14 days after contract |
| Financing contingency expires | 21-30 days after contract |
| Closing Disclosure received | 3 days before closing |
| Final walkthrough | 24-48 hours before closing |
| Closing day | 30-45 days after contract |
Professionals You’ll Work With
Mortgage Lender
Verifies your finances, determines how much you can borrow, and funds your loan at closing
Real Estate Agent
Represents your interests, helps find properties, negotiates offers, and guides you through the contract
Home Inspector
Evaluates property condition and identifies defects before you commit
Appraiser
Determines property value for the lender (you don’t choose this one)
Title Company
Holds your earnest money, verifies legal ownership, and conducts closing
Insurance Agent
Provides homeowners insurance required by your lender before closing
Consumer Protections
Federal laws like RESPA and TILA protect your right to choose providers and require disclosure of fees
When to Research Each Vendor
Most buyers wait until they need a vendor to start researching. By then, it’s too late to make an informed decision.1
Lender: Before you start shopping
Get pre-approved before touring homes. A verified pre-approval protects your earnest money and tells you what you can actually afford. Research and compare at least three lenders.
2
Agent: Before you tour homes
Your agent represents your interests in the largest financial transaction of your life. Interview multiple agents before signing a buyer agreement.
3
Title Company: Before you write an offer
You have 3 days to wire earnest money once your offer is accepted. That’s not enough time to compare options, verify security protocols, and confirm wire fraud insurance. Research title companies before you need one.
4
Home Inspector: Before you're under contract
Inspection contingencies are typically 7-14 days. Have an inspector identified so you can schedule immediately after your offer is accepted.
5
Insurance: 30-45 days before closing
Your lender requires proof of homeowners insurance before funding your loan. Starting early gives you time to compare quotes and avoid overpaying for inadequate coverage.
Common First-Time Buyer Mistakes
Weak pre-approval
Weak pre-approval
A 15-minute phone call with no documentation is a pre-qualification, not a pre-approval. If your lender hasn’t verified your income, assets, and debt, problems will surface after you’ve signed a contract and deposited earnest money.
Skipping title company research
Skipping title company research
Most buyers use whoever their agent recommends without asking a single question. Title companies handle your earnest money and protect you from wire fraud. The wrong choice can cost you hundreds of thousands of dollars.
Waiving contingencies without understanding the risk
Waiving contingencies without understanding the risk
In competitive markets, buyers feel pressure to waive inspection or financing contingencies. Waiving these protections means your earnest money is at risk if problems arise. Know exactly what you’re giving up before you waive.
Making major financial changes after pre-approval
Making major financial changes after pre-approval
Opening new credit cards, buying a car, changing jobs, or moving money between accounts can affect your loan qualification. Avoid major financial changes until after closing.
Treating insurance as a last-minute checkbox
Treating insurance as a last-minute checkbox
Scrambling for insurance a week before closing leads to overpaying for policies that don’t actually cover what you need. Start researching insurance providers early.
What This Learning Path Covers
Each page walks through one stage of the home buying process. You’ll learn what happens, which professionals are involved, and what to evaluate when hiring them.Getting Pre-Approved
Why this comes first and what separates real pre-approval from marketing gimmicks
Finding an Agent
Choosing someone to represent your interests and guide your search
Making an Offer
What happens when you find the right property and go under contract
Due Diligence
Inspections and appraisals that protect you before you commit
Title & Closing
The final steps before you own the property
Insurance & Moving In
Protecting your investment and getting settled
This learning path connects to detailed guides in the Service Categories section. After understanding the overall journey, use those guides to go deeper on any topic.