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  • Alexander Wissel

How to Buy a House Fast – Seriously Fast!

Fast-Track to Homeownership

  • Discover effective ways you can expedite the house-buying process and get into a home fast.

  • Learn how to prioritize your needs and make quick, informed decisions.

  • Understand the importance of collaboration with professionals and staying proactive.

Buy a Home Fast - Like Seriously Fast - Source:
Buy a Home Fast - Like Seriously Fast

If you're in a hurry to buy a house, whether it's due to a job relocation, a sudden change in your living situation, or simply because you're excited to embark on the journey of homeownership, this guide is for you.

Every now and then we get a S.O.S. call from a client that tells us ‘we need to get in a home immediately’! Sometimes its a work relocation, other times its been a new baby. Either way we can get it done as fast as possible when everyone is focused on that goal.

In this article, we'll explore effective strategies and tips to help you navigate the house-buying process swiftly and efficiently – without compromising on quality or making hasty decisions. So, let's dive in and discover how you can buy a house really fast!

To buy a home fast, you need to determine your budget, get pre-approved for a mortgage, prioritize your needs, collaborate with a real estate agent, conduct thorough research, shop for houses, prepare your documentation, stay flexible and decisive, secure financing, and close the deal promptly.

Determine Your Budget and Get Pre-Approved

To embark on your house-hunting journey, it's crucial to have a clear understanding of your budget. Analyze your financial situation, consider your income, savings, and any outstanding debts. This will help you determine a realistic price range for your potential home.

Reach out to multiple lenders to explore the best mortgage rates and terms that suit your needs. Before you even start looking at homes you need to get in contact with an experienced local lender. If you don’t know one, talk to a good real estate agent and ask for recommendations.

Ask your local lender how long their process takes, whether they have local decision-making partners who can the job done fast, and how quickly they can close from contract acceptance?

Tell your lender that you are trying to move quickly and to go through the process of being underwritten. When most people talk to a lender they give basic info and a lender maybe pulls a credit report, but gives them a pre-approval. That’s not good enough. Getting fully underwritten means you are good to go to buy a home for whatever price they qualify you for.

Prepare Your Documentation

To ensure a smooth and swift closing process, gather all the necessary documentation in advance. This is a step that your lender may ask of you to get fully underwritten. Having your documents ready to go will save you time.

These documents may include proof of income, identification documents, bank statements, tax returns, and any additional paperwork required by your lender. Being organized and having your documents readily available will help expedite the buying process.

If you need a form that takes time to get, like marriage documentation or something difficult, you need to work on it asap. You won’t discover what you need until you start talking to your loan officer.

Prioritize Your Needs

To expedite your house search, create a list of your must-haves and deal-breakers. Identify the essential features you desire in a home, such as the number of bedrooms, location, proximity to amenities, and any specific requirements.

Having a clear vision of your needs will help you narrow down your options quickly. If you need to sacrifice something for the sake of time you need to know what’s negotiable and what’s a must have.

Collaborate with a Real Estate Agent

Enlisting the help of a qualified real estate agent can significantly speed up the process of buying a house. Working with a Realtor or real estate professional should be a collaboration with everyone contributing.

As an advisor, my goal is to get my clients everything they want. Sometimes it’s not possible so we can help provide an outside perspective on what is more valuable and what might be difficult to find.

Finding a home and getting through the process can be overwhelming. Having an agent will be crucial if you need to buy a home fast.

An experienced agent possesses in-depth knowledge of the local market, access to exclusive listings, and negotiation skills that can save you time and money. They can streamline your search, provide valuable insights, and guide you through the paperwork.

Conduct Thorough Research

Utilize online resources and real estate platforms to explore available properties that meet your criteria. Take advantage of search filters to refine your options based on price, location, and other preferences.

Become a research glutton and learn everything you can. From school systems, to commutes, grocery stores and restaurants. By conducting thorough research, you can identify potential homes that align with your needs and make informed decisions efficiently.

Attend Open Houses and Schedule Showings

Attending open houses and scheduling private showings are crucial steps in the house-buying process. Act promptly when new listings become available and request private showings for properties that catch your interest.

For hot homes it can be hard to even get an appointment. So sometimes you might need to go to an open house to check out the inside.

You can do a lot by way of searching in the internet… but it’s not perfect. For example: you’ll never know if a home had a smoker by just looking at pictures. By visiting potential homes will allow you to gather first-hand impressions and make quicker assessments.

Stay Flexible and Act Decisively

In a fast-paced housing market, it's essential to stay flexible and act decisively when you find a suitable property. If you hesitate, you risk losing out to other interested buyers.

Trust your instincts, conduct thorough inspections, and when you find the right house that meets your needs, be prepared to make a winning offer promptly.

That last part is important. I’ve asked clients if they felt like we had written a winning offer and they told me no. To which I replied why are we doing it then? Lean on your agent’s advice on what they feel is necessary to win the bid on a property.

Secure Financing and Close the Deal

Once you've found your dream home, work closely with your lender to quickly give them any documentation they might need. Finalize the mortgage application process, review all loan documents carefully, and address any concerns or questions promptly. Many times there will be a random document request right before settlement – take it in stride that it’s not unusual and get it done quickly.

Work with your real estate agent and title or legal representatives to ensure a smooth closing process. That could mean getting documents pre-signed, or it could mean moving up settlement if all parties are able.

How to Buy a Home Fast – How Fast is That?

Buying a house quickly requires careful planning, effective communication, and a proactive approach. It’s a whirlwind but it can be done. Financing takes the longest, followed by title work. So if you’re paying cash you can shorten your timeframes. Our experience is with the state of Maryland, so other states might be different.

Financing takes 25-30 days if everything is flawless. Delays in paperwork or appraisal can add to that.Title work takes about a week to 9 days on average – but longer if the home hasn’t sold recently and has tricky estate or unreleased lien situations.

I’ve seen cash offers settle in 14 days. … that’s incredibly fast.

On average I like to tell clients that from contract acceptance to closing its roughly 30-45 days, with my average being closer to 32. The fastest I’ve even heard of a closing with financing was 23 days… and that was considered stunning. (It had a team of experienced professionals getting the job done.)

You can expedite the process without sacrificing your needs or making hasty decisions. Remember to stay organized, act decisively, and be prepared to seize opportunities when they arise. With these strategies in place, you'll be well on your way to purchasing your dream home in no time.

Remember, buying a house is a significant investment, and while speed is essential, it's equally important to consider the long-term implications of your decision. Good luck with your house hunt, and may you find the perfect home that meets your needs and brings you joy for years to come!

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