How to Buy a House Fast

When it comes time to buy a house, home buyers have different needs and wants. Some need to be in a home as quickly as possible while others want to push the move in date back until they first sell their own house.

Either way, it is important that they can buy it fast. Especially in a competitive market that has homes selling as soon as they are listed.

So, while it may seem impossible to buy a house fast, there are ways to speed up the process.

Find The Right House

There are certain homes that cannot be purchased quickly despite what the buyer does to make the process smooth.  For example, homes that are being sold that need an interview with a co-op board or homes that are owned by a bank will slow the process down.  It can take weeks to schedule appointments and to get approvals.

Instead, look at newer homes or even condos.  These can be purchased in just a few weeks if the buyer already has their financing figured out.

Handling Financing

Do not expect to get financed quickly after making an offer on a house.  Start the process by talking to a local lender about getting a pre-approval.  Local lenders tend to be able to process loans more quickly than a big name bank or online lender. The pre-approval will tell a buyer exactly how much a lender will offer and they are secured for making confident offers.

Always Be Organized

Get everything together that could be needed during the process.  Even if it is not needed down the road it saves the time of digging for it.  

There are certain papers that almost every buyer will need, starting with their federal tax return for the past few years.  Home buyers will also want to have the W-2 used for those tax returns. Proof of employment and income is needed. Be sure to have at least two months of pay stubs.

Contingency Time Frames

Waiving contingencies is a dangerous game, although some buyers choose to do it.  Instead of waving the right to a home inspection or the right to have a financing contingency when you buy a house, look at shortening the time frame.  Only ask for seven days instead of ten when trying to get an inspection complete. Just be sure the professional that is completing the task is up for the time crunch.  

Clear Communications

Anyone that is involved in the process needs to know about the deadline.  As soon as a professional is under contract keep communications open with them for any potential problems.  Make sure everything is going smoothly and quickly on their end. Be ready to address any problems at the drop of a hat.

Get Ready to Go

While handling all of the preparation of buying a house it may be hard to find time to pack.  However, to get into this new home fast, it is important to start cleaning out that old house.  Pack up non-essentials and even put them in storage until the move. The more prepared a home buyer is for the move, the better.

The process to buy a house fast can be stressful for everyone involved. But while it may feel like a month of non stop worrying and phone calls it will be worth it in the end when you are finally sitting in the new home.