The Home Buying Timeline Explained - The Powers Playbook ep 18

How long does it actually take to buy a home?

In this episode of The Powers Playbook, Aaron Powers breaks down the full home buying timeline from start to finish — from getting pre-approved, to shopping for homes, making an offer, going through escrow, completing inspections, appraisal, final signing, and getting the keys.

For many buyers, one of the biggest questions is simple:

“Where do I even start?”

This episode walks through the entire process in a clear, practical way so buyers can better understand what to expect before they begin.

While every buyer’s situation is different, Aaron explains why real estate often works in roughly 90-day cycles — with the first 30 days focused on preparation and pre-approval, the second 30 days focused on shopping and finding the right home, and the final 30 days focused on escrow and closing.

In This Episode

• How to get started with the home buying process
 • Why your first step should be speaking with a real estate agent and lender
 • What happens during the pre-approval process
 • Why real estate often works in 90-day cycles
 • What buyers should expect during the home search
 • How the offer process works
 • What happens once you enter escrow
 • Why inspections and appraisals matter
 • What buyers should know about final signing
 • When you actually get the keys to your new home

The Basic Home Buyer Timeline

A typical home buying process can often be broken into three major stages:

First 30 Days: Get Prepared

This is where you connect with your real estate agent, speak with a lender, review your finances, and go through the pre-approval process.

Second 30 Days: Find the Home

This is when you begin shopping, touring homes, understanding what is available, and deciding which property fits your needs, budget, and goals.

Final 30 Days: Escrow & Closing

Once your offer is accepted, you move into escrow. This is where inspections, appraisal, lender conditions, paperwork, final signing, and closing all take place.

Why This Matters

Buying a home can feel overwhelming when you don’t know what comes next.

But when you understand the steps ahead of time, the process becomes much easier to navigate.

The goal of this episode is to help buyers feel more prepared, more confident, and more informed before they start the journey toward homeownership.

Thinking About Buying a Home in Las Vegas or Henderson?

If you have questions about:
 🏡 the home buying process
 📋 getting pre-approved
 🔍 finding the right property
 💰 down payment and closing costs
 📍 Las Vegas or Henderson real estate

reach out anytime.

📧 info@powersre.com

About The Powers Playbook

The Powers Playbook is your guide to family, wealth, and real estate.

Each episode helps buyers, sellers, homeowners, and investors make smarter decisions through practical conversations about real estate strategy, market trends, financial planning, and building long-term wealth.

Subscribe for more conversations about:
 🏡 Las Vegas real estate
 💰 wealth building
 📈 home buying strategy
 👨‍👩‍👧 family-focused financial decisions

Transcript

SPEAKER_00 0:00

You've opened the Powers Playbook. Your guide to Family Welk and Real Estate. Hello and welcome back to the show, everybody. Welcome to the Powers Playbook. Got an exciting show for you today. The play we're running today is going to be going over the entirety of the home buying process. So this is something that we do generally on a one-on-one appointment level. We also may do this in a classroom setting, delivering the information to a variety of people at the same time. So today we're going to focus a little bit more on that context, just to speed thing up and speed things up and get to the end for you. If this is something that interests you, you're going to want to do this one-on-one with your real estate agent, just because all of the things I'm going to mention are are going to need to be specific to you as far as like, you know, numbers or down payment or cost of property, a lot of different things that will come into play. But I do think it's important and one of the biggest asked questions that we get, or most commonly asked questions we get is, well, how do I get started? You know, what is the process like? What does it entail? What can I come to expect? So from a timing perspective, I always pretty much say real estate works in 90-day cycles. So just to give you a heads up, this is not part of your um timeline, but uh the first 30 days is to get you introduced to who you're gonna work with, your lender, mortgage lender, real estate agent, go through the pre-approval process if you're getting a loan. If you're not getting a loan, then we can cut out the first 30 days. If you're paying cash, you don't need to do this part. But um first 30 days is getting qualified, getting approved. Second 30 days is finding the house, shopping, seeing what's out there, what you're gonna buy. Final 30 days is your escrow process. Okay, so that's really what we're gonna go over in a nutshell, but I always pretty much tell people it's about a 90-day process, just depending on how much you need to do, how long it takes you to look. Now everybody's different, yours could be different, but in if we're averaging it out, that's that's about what real estate entails. Okay, so let's get into your timeline. We're gonna call this the buyer timeline. This is everything you're gonna do from start to finish as a home buyer. All right, step one, get pre-approved or have your proof of funds. All right, so if you are paying cash, then we just simply need some sort of statement, uh, any account uh balance with your name on it that shows the cash necessary for you to complete the purchase. Okay. If you are getting approved, you will want to uh talk to a mortgage lender. This can be a broker, it can be a bank, um, can be any of the above. We've got great relationships. We can introduce you if you need it. Um, but this will really be your first step is what can I purchase? What can I get approved for? Why is this important and why does it come first? We need to know what your monthly payment is gonna be, we need to know what your budget is gonna be, and we need to know how that correlates into what purchase price we're shopping for. So if you come and you sit down with me, I can tell you every single step of the process. But if I don't know what you can buy, if I don't know what your approval goes to, if I don't know what your monthly payment's gonna be, what your interest rate's gonna be, you and I are basically gonna be window shopping, meaning we don't know exactly what you can be approved for. So there's only so much information I can give you at that point. Okay, so step one is to get fully pre-approved with a mortgage lender. All right, step two, your initial appointment with your real estate agent. All right, so you can flip-flop these one and two if necessary. I kind of just gave you the reasons why one is one, is because again, I can I can give you all the information, but if I don't know what you're buying, then my information to you on the real estate side is not as specific, meaning you're not going to get as much out of it or the same level of confidence or service based on the conversation. Okay, so number two is your initial appointment with an agent. Now, could you meet with an agent, get familiar, understand the process, then go get pre-approved? Absolutely yes. We do it all the time. In fact, I'll tell you, I think most people probably talk to their real estate agent before they talk to their mortgage lender. Um, for whatever reason, we kind of seem to be the, you know, like if you think about a wheel, the real estate agent a lot of times acts like the hub at the in the middle of that wheel. And then we provide the spokes to all of the other vendors or you know, trusted partners that you're going to use throughout a real estate transaction, like a mortgage lender, a title company, a home warranty representative, um, you know, so on and so forth, depending on what you need. And so a lot of times they'll come, you know, a buyer will come to a real estate agent first, we'll end up um then giving them either uh, you know, a list of mortgage lenders or somebody that they can use. So number two is your initial appointment with the real estate agent. Out of both of these, one and two, we really just want to make sure we like the people we're working with. There are a lot of options out there. You're gonna work with these people, like I just told you, for probably the next 90 days. You might as well like talking to them, doing business with them. There's got to be a level of trust involved there. So just keep those things in mind. If you meet with somebody, you don't feel obligated to use them. Make sure that you, you know, feel comfortable and trusting uh the people that you're talking to. In that initial appointment with your real estate agent, they are gonna go over what I'm gonna show you today. What are the steps of this process? They're hopefully gonna do that with you somewhere in person. At their office is the best case, but you know, any sort of common ground public place is fine. Um, but if you are going out and starting a real estate transaction and you're doing this for the first time, let's say, and somebody hasn't sat you down to actually show you the start to finish process, I would wait until you find somebody that's willing to, because this is very important. If you're learning these on the fly, you're definitely not gonna be as happy or satisfied with your level of service as what we found over time. Okay, so when you get to number two and you do your initial appointment, that comes up on number three, which is your criteria. All right, once we know that you want to buy, we've established your timeline, we know that you're approved, we have your approval up to what number? Today we're just gonna use 400,000 as a baseline for any of the math or anything that we do from here on out. Purchase price of $400,000. Okay. What other criteria do you have? You could say, well, I need three bedrooms, I need two bathrooms, I need a two-car garage, the house, you know, I don't want a pool. I do want a pool. I need to be within this school district, I want to have, you know, uh an updated kitchen. I want all my cabinets to be white or I'm not buying it. Like, you know, whatever the things that are. What is your criteria? That's number three. Okay, there's a lot of different things. We'll talk about where do you work, why is it important to you? I need four bedrooms. Okay, well, if we found you a three-bedroom house, but there was like a loft or den space available, would that work? So we're gonna we're really gonna cut your criteria into wants and needs. And then what we're gonna work to do is really focus on the needs and maybe take out some of the wants. Okay. Your your life is a give and take. Your real estate transaction is gonna be that way as well. You're likely not gonna get every solitary thing that you want all the time, but we want to make sure that you get what your absolute needs are. That way we're not circling back and we're looking for another house in a year again, right? So we want to know, you know, what are the most important things to you. Okay. Once we've developed those, we are going to create a property search for you. Now, this is the same thing you're gonna do on all of your, you know, places you're already looking online, your Zillows, your Redfins, your realtor.coms of the world. We're gonna create a customized property shirts directly through our MLS. This is gonna allow you to see in real time anything that fits within the criteria that you're looking for. Okay. So we always do this for our clients. It's just a really good way of them looking and us looking at the same time. You know, that way they're not waiting on us to choose all the houses, and then we're also not waiting on them to go out and self-select all the homes they want to see. So we're we're in it together. And so that's an important part of the process too. And that property search, you know, ends up helping a lot. We can put all those criteria points once we know the needs in and find out what you're looking for. All right, so that's step three is criteria. Step four is view the homes. Okay, so once we've established um you are pre-approved, you've met with your agent, you have a criteria and a search setup, we're gonna choose when are we gonna go look at the houses? Right? We'll base this off of your availability. I always say it's really good to look at three to five houses at a time. If you're looking at less than three, you're just not getting as much done. If you're looking at more than five, you're gonna forget number one by the time you see number six. It just, it's just the facts. It's really hard to look at more than five, maybe six max properties in a day and not start to forget the specifics of each property. So we really try to limit it. If we can do it, you know, area by area or neighborhood by neighborhood, that's even better. But when we view homes, typically it's about three to five at a time. All right. So, and if you've gone out and looked at 10 homes in a day, you know exactly what I'm talking about. It's a lot. It's a lot of houses to look at. We don't want you to get burnt out or or you know agonize over doing this. It should be supposed to be fun. This is supposed to be a fun process looking for a home for you and your family. So we want to try to keep it that way. All right. So that's number four. We'll go view the homes. When we're looking at homes, it's your job to look at all the pretty stuff, tell us what you like, what you don't. We'll likely at the end say, like, hey, would you consider this house why or why not? We may ask you to grade it just to try to get some you know feedback. When we're looking through homes, our job is to figure out, like, oh, look at that stain on the ceiling. You know, um, I wonder, you know, how that happened right there. Or does the water heater have uh straps and a pan underneath? And we're looking for all the little nuanced things that are going to come into financing or negotiation down the line that we'll try to you know prepare you for. So just to as you know, caveat, you definitely want your agent to be looking out for you on certain things and tell you when, hey, this house looks like maybe it hasn't been cared for very well. Here's why, right? Like we we want to give you real-time feedback and to to try to help you make the right decision. Okay. Let's say you like the house, you want to move forward. Step number five is write the offer. All right, so five is we're gonna write offers for you. Um, it's a called a residential purchase agreement, the document that we use to write offers, but we're in this case just gonna call it an offer. All right. It's a document that entails all the reasons or all of the things that you're going to be putting in your offer. How much am I offering? What kind of loan am I getting? What's my down payment? Um, what are my contingency periods? What date do I want to close? Um, you know, all of the little nuances that come into the sales contract. So we'll help you fill that out, and that will start your escrow process. So let's say we we deliver that offer to a seller. They can either accept our offer, counter our offer, or reject our offer. Typically speaking, if they usually either accept or counter unless we're just offering so far low or we missed out and somebody else already got it. Um but typically we're hoping they're gonna accept, right? We're gonna negotiate back and forth. We may have a counteroffer, we may have one, two, or three counteroffers, just depending on how the negotiation goes. But once we get an accepted agreement, where buyer and seller are both accepting of the terms, we're gonna move forward and do what we call open escrow. We're gonna start working with a third-party escrow company. Um, Nevada is a state that uses title and escrow. We do not use uh real estate attorneys for our um real estate transactions. We do have attorneys, of course, but you do not need one in order to buy a home. Um, we will start the escrow process. So, what this entails is we are now quote unquote under contract or pending, as you may see it online in different places. And we're now going to go through the process of you actually going through and fine-tooth combing all the parts of this house to make sure that you want to buy it and to make sure that the lender is willing to lend the money on it. Okay, so this is what we call our escrow process. So, step number six is the first thing you do in escrow. It's called your earnest money deposit. Okay, an earnest money deposit is um something I like to call like a good faith estimate. It's basically a small amount of money you're going to put into a third-party escrow account, which is going to show the seller that you are serious and you want to buy their house, right? You've got some skin in the game, essentially. That's going to allow the seller now to pull their property off the market and be under contract with only you as the sole buyer. Okay. This earnest money deposit is typically 1% of the sales price. Now it's not exact, it's just a rule of thumb. It is negotiable. Every part of a real estate contract is negotiable, right? So but for our example, we're going to say earnest money is 1% of a $400,000 sales price. So we're going to say our earnest money is $4,000. Right? That goes into an escrow account and sits there through the entirety of your sales process. If you cancel for any reason within your contingency periods in the contract, we will be able to get that earnest money back for you. If you complete the purchase, that earnest money will become part of your down payment at closing. So it is not an additional deposit by any means. It goes towards your purchase of that home. Okay? That is your earnest money deposit. The next step we have, or step seven, will be your home inspection. Okay, so this is where we really start to kind of look into the property. Um, we will want to do our home inspection as soon as possible, right when we get into to escrow when when under contract happens. And we'll want to hire a third-party home inspector that will go in and inspect the home for us. And they're gonna deliver us a nice detailed report, photos, um, explanations, and questions potentially for the seller as well. So they're gonna deliver um everything that they find into a nice, easy-to-read report for us, and then we are gonna now be able to go use that report to potentially ask the seller for items to be fixed and/or credited on our behalf. Okay. Rule of thumb for home inspection, it's typically anywhere from three to four hundred dollars, unless it is a very large property, and then we'll have to, you know, quote that individually. Um, and or if it has a pool, it may cost a little bit more. But just as a rule of thumb, most homes will typically cost anywhere from three to four hundred dollars for a home inspection. If you wanted to heighten it just a little bit, you could say three to five hundred just to account for any pool or a larger square footage of home. But that's typically about what it will cost. Now, this is just a standard home inspection. It's going to view every part of the house. They're going to look at the roof, the HVAC, the plumbing, the electrical, um, your appliances, right? Flooring. I mean, they're gonna they're gonna look at every part of the house that they can see. Now it's not invasive, right? If they see something, if they see a stain on a wall, they're not going to rip the wall out and see what caused it. Right? We're gonna have to either get a second professional in to say, okay, here's what happened, or we may just ask the seller, hey, can you explain this? And then they can. Okay. So home inspection, again, non-invasive, regular home inspection, this is where you should start. You never want to start on a property by getting, you know, four different inspections off the bat. We want to do a standard home inspection. We want to get those results and then see if we need additional information from there. Okay. Now, in our home inspections, we are looking for health and safety issues primarily, right? We, if an outlet cover is missing or there's some, you know, uh mismatch paint on the wall or a scuff here and there, those are cosmetic issues. Typically, we're not going to worry so much about those. The home's, you know, it's been there, right? Somebody else has lived in it. That's okay. If it's brand new, um, typically we'll still have a home inspection and then we'll ask them to correct anything as well. But we're really looking for larger issues, right? Is there something wrong with the electrical? Um, is there an active leak or anything with plumbing? Um, something concerning on the roof. And then the biggest one, of course, in Vegas is uh HVAC, right? Uh summertime, we need our air conditioners to work. We need them to perform well. So these are the things we're really looking for. Um health and safety, right? What is the things that we would worry about moving forward? Okay. Now, when we get done with the inspection, we've got a few different options. Okay. Number one, we can take a list that the inspector gives us, we can ask the seller to repair certain items for us. Okay. We can also ask the seller to give us a credit in an amount of money to overcome any of the fixes instead of making repairs. All right, so those are those are options. Third option is we just say, hey, everything went great on the home inspection, we're not asking for anything, let's move forward. Okay. That typically doesn't happen very often. Most home inspectors are going to find something, um, just in nature of what their job is. Their job is to, you know, cover liability and make sure that the home, if there's any red flags, we have to present those to the buyer, right? So you as the buyer, you present that we call it a request for repairs, right? Where we're asking the seller to repair or credit for certain things. The seller now has the ability to respond to that or counter, if you will. They can say, okay, you asked me for six things, yes, I'll fix all six of them. Or they can say, hey, you asked me for six, I'll fix these four, but these two are on you when you move in. Or they could say, Hey, I uh I will not fix the six, but I'll give you a credit of X. That's where the credit comes into play. Or they have the opportunity to say, I know you want these things fixed, but I'm selling the house as it is, and take it or leave it. Now, typically, number four doesn't happen too often. There's usually a back and forth negotiating that happens at this point because once you get under contract, seller wants to sell, buyer wants to buy, right? We all want to facilitate the same thing. Our job as the agent is to just help you negotiate your way through that, where we're not, you know, sticking on certain things that maybe aren't quite as big of a deal. But if they are a big deal, we want to make sure that they get corrected for you as well, right? So that's our negotiating. That is really what the home inspection uh report and step really entails, is all of what I just covered. I know it's a lot, um, and it is probably the number one thing of why people, you know, may not move forward with the house is just because they don't become as comfortable with it after inspecting it, and that's totally fine, right? Way better to spend three or four hundred dollars on a home inspection and walk away from a house than to spend four hundred thousand dollars on it in the long run, right? So that's why we get them done. Okay. Your earnest money deposit, I'm gonna go back to that for a second. Um, a couple things here. Your earnest money deposit is going to be refundable should you cancel the contract within your contingency periods. Your home inspections is one of those. So if we get the home inspection back and you don't like it, or the seller doesn't give you what you're asking for, you have the opportunity to walk away from that house and you would be able to get your earnest money back. Okay. Same thing goes for our next step, which is gonna be number eight. That's your appraisal. All right, so number eight is appraisal. Your appraisal, once you've gotten through the home inspection, your appraiser is the appraisal is the valuation of the property. Right? This is where an appraiser is gonna go out to a property, generally hired by an appraisal management company who's uh also hired by your lender. They're gonna go out and assess the value of the home. Okay, this is important because we want to make sure that the home they believe is worth what you're paying for. So if you're under contract for $400,000 and the appraiser goes out and views the property, their inspection is non-invasive as well. Maybe it takes, I don't know, 15 to 30 minutes. They're just gonna walk through the house, make sure they understand the condition, the products used, what upgrades it may have, like how to how to value it basically, right? When they go out to the house, they're gonna deliver a report back to you as the buyer. Your appraisal today is gonna cost anywhere from about five to seven hundred dollars on average, could get up to 750 depending on the loan type. But that's about right for appraisal. They are gonna make sure it's worth what your what the bank is loaning you. So if if they go out to the property and they deliver a report and say, yep, the value is $400,000, you're under contract to pay $400,000, we're all moving forward. Everything is hunky-dory, it appraised, we're good to go. If they go out and give a valuation of $390, we are all of a sudden now $10,000 apart on price, right? Because we want to buy $400, the seller accepted $400, but if the bank only, if the appraiser only appraises for $390, that's what the bank is going to loan on, the appraised value, which is $390,000. So we now have a have a difference of $10,000 that we have to now renegotiate and make up, right? So you if that happens, we've got a few options. If it comes in, appraisal comes in low, we need to know how much is the gap. In this case, it's $10,000. The first thing we're gonna do as the buyer is we're gonna ask the seller to reduce the price. It's just that simple. We can only get loaned up to $390, so we're gonna go back to the seller and say, Mr. and Mrs. Seller, our appraisal came in, it only came in at $390. We would like to purchase the home for $390. Okay. Again, seller's gonna have some options too. They're gonna be able to say, Yes, okay, we'll sell it for $390. That's the appraised value, we'll continue moving forward. Okay, great. That works best for everybody. They could also say, No, we're we're not gonna sell for $390 and we're not gonna reduce the price. You need to find a way to come up with the extra $10,000, right? You as the Buyer may say, I love this property, I'll pay the extra 10. Or you may say, I just don't have an extra 10. I can't do that. You may have to walk away from it. Okay, the other option here is you meet somewhere in the middle, right? Which means we're now renegotiating. They may say, Well, I'll sell it for $395, I'll come down $5,000, you come up $5,000. Can we make that work? Right. So this is again why you hire your real estate agent and the confidence you have in them is to negotiate through things like this when they come up. Okay. Typically speaking, we don't have a lot of appraisal concerns. Our market's been very stable for a while. These are usually identifiable if we're going to have a problem ahead of time, but in business, you never say never when you're not expecting it to happens. When you aren't, sometimes it doesn't. You know, I mean, it just depends. So, but that's really where you're renegotiating on appraisal. If the appraisal comes in over what you paid, so let's say you're paying 400 appraisal comes in at 410, even better. That means you, as the buyer, just bought a $410,000 house for $400,000. So you instantly move in with $10,000 in equity. Congratulations. You made a really good purchase. And that happens sometimes too, right? So in that case, we do not renegotiate, we move forward. Seller sells for the contracted price of $400, and you just get know that you made a good purchase and you have equity when you move in. Okay. So you've got options on both of these. Um same thing in the appraisal as the inspection. If for some reason you have to walk away from the appraisal, if it let's say the 390 happens, they won't reduce, you can't come up with the money, then we can back out of the deal. You can get your earnest money deposit back. Okay. So there are there are checks and balances here of how we protect your earnest money through this process. Now, your home inspection and your appraisal, these are non-refundable items. Okay. Meaning that your earnest money deposit is refundable, correct? Your home inspection and your appraisal are non-refundable. So if you do cancel because of one or either one, that is the risk of you doing business. Okay. Home inspector is still going to go perform a job, give you the report, do his work. He's still going to get paid for that service up front. And if you cancel, that money is not coming back to you. So if you add those two up, your home inspection and your appraisal, pretty much tell everybody save about $1,000, maybe $1,100. And that is your cost of doing business, right? Way better to spend $1,000 on something and not make a $400,000 mistake than you know to just wash through all that and then all of a sudden just, well, I'll just buy it. Right. So that's why those things are in place is to protect you and your investment from becoming or going further than you really want it to. Okay. So same thing with the appraisal. The appraiser is going to go out to the property. He's going to appraise it. He's going to deliver you a report of the appraised value of the property. He's going to get paid upon that report, whether you close on the house or you don't. Okay. So again, earnest money refundable, home inspection appraisal non-refundable. Okay. So just to give you a heads up on that. After your appraisal, um, step nine is going to be your loan contingency. Okay. So nine is your loan contingency. This is really where your lender is finalizing your loan, right? They're going to rey they're going to send you to underwriting, they're going to re-pull potentially new bank statements, updated pay stubs, re-verify your employment. Just make sure that everything is good to go with your loan. Um, this is the last contingency in your contract. It's called the loan contingency. And this uh accounts for if anything were to happen unforeseen. So let's say you get a pre-approval for the mortgage, but when they go to really look through and fine-tooth comb everything, they had something that popped up on your credit or something with the way that you earn income that they didn't know before, and now all of a sudden they can't approve you. Well, it may not be your fault. You did everything they asked for. So this is the last contingency we have to protect your earnest money. It also protects you with risk for unfortunately loss of job, loss of life, right? Loss of a loved one, um, you name it. This is there to basically stand in the place of something unforeseen happening, right? If you're buying a house and two weeks before closing, you lose your job. Well, how are you gonna make the payment? Right. So this is to protect you from something bad happening like that, where you can now double back and say, hey, I'm so sorry, you give a loan denial letter. Yes, you will have paid for home inspection and appraisal, but you can get your earnest money back and you can get out of the transaction that way, right? Now, all of those caveats to all these things. I'm I'm giving you kind of a you know, law of averages breakdown here. But I just want to, you know, take the time to say I'm not a I'm not an attorney, I'm not a real estate attorney, I'm not a tax attorney, I'm not anything but a licensed real estate agent. These are all just based off of my experiences and your situation may be slightly different than what I'm explaining when you go through the process. But this should relatively be what 99% of your purchases are as you navigate this. Okay, so that's my please don't take this and sue me with it later. Um to go go back from we're gonna move forward from loan contingency in a second, but just to go back one step is just to let you know that your earnest money deposit and any other deposits made through this transaction must come from a verified source. Basically means like you need to have the money in the bank. Okay, you can't show up to deliver your earnest money or your closing funds with like a duffel bag full of cash that you kept under the mattress or in the wall of your house for years. It doesn't work like that. Everything that you're you're getting uh needs to be verified income, especially if you're getting a loan. It 100% must be in some sort of financial institution. Now it can be you know gifted to you, it can come from other people, don't get me wrong, but the money has to be in the bank. Okay. We've had a couple of these where people have come in and said, like, well, I have money, it's just you know, sitting at home uh in you know, X location. And I'm like, well, great, we need to put it in the bank because we can't use it. So just my caveat to tell you that the money has to be in the bank, all right? Um, if you you know need help doing that, reach out to us. I can you know help you through that process, but we do have to get it in there so that it's provable and verifiable so that you can actually use it as your own money. Okay. All right, so step 10 after we can do our loan contingency, our loan is completed, we have a clear to close, everything is good. The last thing we're gonna do is a final walkthrough. Okay. So we're gonna go through the property one last time, we're gonna walk through it, we're gonna verify if any repairs were supposed to be made, that they were made. We're gonna make sure that the house is still in the same condition. It's still sitting where it's supposed to sit. It hasn't been vandalized, squatted in, burnt down, you name it. We have to make sure that everything is good before we send all of our money and buy our house, right? So that's called the final walkthrough. That's where we just make sure that the property is ready to go before we commit. Okay. Number 11, we are going to execute our closing documents and we're gonna wire our money. Okay, so um, closing documents, meaning that we are gonna go to the title and escrow company and we're gonna sign all of our final documents. Uh, you're probably gonna sign your life away about uh, I don't know, I haven't counted, but a hundred, we'll just say a hundred times. Uh loan documents, escrow documents, you're gonna sign everything under the sun that you're buying this house. And that is gonna be one part. We're gonna do a signing appointment with title. We can go in person. They can also use a mobile notary service, which has an extra charge where they come to you. Um, but either way, we'll we'll be at your, you know, by your side for that. Um, and then the second part of that is you're gonna wire in any money for closing. Okay, so you had your earnest money up front, you paid for your home inspection and your appraisal. Now the time comes to send in the rest of your closing funds, or what we like to say cash to close. This encapsulate uh encapsulates all of your rest of your down payment funds as well as any closing costs that you may have to pay as part of your loan. All right. Um, when you do this, the title network company will provide you a balance due. You will take this to, you know, you can do it online or on your phone or at the bank and wire in the rest of your closing funds. Okay. So this will very vary for all of you. I can't give you an exact amount on this. This is why it's specific one-to-one conversation. Because if I know what you're buying, I know what you're approved for, I know what your down payment is, I can get dangerously close to telling you what you're gonna owe at the end. But um, you know, buyer A, B, and C, you're all gonna owe completely different amounts when comes time for closing. So for that information, you know, sit down, come and see us one-on-one, and and we'll walk you through that as well to give you a basic uh understanding of what your cash to close will be. Okay. Um, once we do that, you're signed, your money's wired. Now we're just waiting for closing. So uh step number 12 is going to be giving you your keys, actually delivering your home to you, the thing you've been waiting on this whole time as I'm telling you all this stuff. Um, the reason it's not part of number 11 is um, at least for Nevada, we're a title in escrow state. Um, we don't give keys at signing, we don't give keys at money, we give keys at recording. So we we get everything together, buyer, buyer funds to close, lender funds to close for your loan, all of the paperwork, and then we release all of that to the Clark County Recorder's office in Clark County where we are. They then stamp the deed and they record the property into the new buyer's name. Once we have confirmation of that recording, then we can go ahead, meet you at the property, give you your keys, celebrate, you know, jump up and down, put it on social, all the things, right? All the things you want to do. Um, but we we cannot do the keys until it records. So the reason I say this is the day that you sign may be a different day than you send your money, maybe a different day than you get your keys. Okay, but all have to be done in that order. Um, we may do it all on the same day. There may be a transaction where you sign in the morning, go straight to the bank and wire your money, and you get your keys that afternoon. Absolutely could happen. We just don't have any absolute control over that and can't guarantee uh closing um specifically. So I just say that I've had a couple people show up to you know, like their final signing with their moving truck and like I'm ready to get my keys today, and I'm like, ooh, we're not we might not be getting keys today. Um so I just like to let everybody know we are a um a uh recording state, we're a title and escrow state. I know some of the East Coast states, um different places in the US, you may sit around a table with an attorney, everybody signs, the keys get handed over, and then you're done. We're a little bit opposite of those dealings. So I just wanted to explain that in full. All right. That's it. That's it. A lot of information I know. Um and that really in a nutshell, obviously, um, there are certain things that you may go through that I that I haven't talked about, depending on what you know, if you're buying a short sale or buying a foreclosure or buying a probate property or a HUD home, or like there are lots of, or a brand new build, a lot of caveats to this, um, probably a different show on all of those, to be honest with you. And the majority of your purchases will go exactly like I just stated from start to finish. But we want to make sure that um, you know, you're set up to understand the process and and what you may go through. The only other thing that I will say that I didn't talk about in our steps, just because it isn't with every home, but I'm gonna say it because it's with a lot of them in our area, is your HOAs. Okay, so there is a review period in a standard contract for a property with an HOA or multiple HOAs. The only reason I didn't say it is because there will be plenty of properties that do not have an HOA, and so that step is basically irrelevant to you. But if you're buying within an HOA, the seller has 15 calendar days to produce an HOA resale package for you. Okay, this resale package will have all the CC and Rs, the bylaws, the budgets, all of the rules at which the HOA governs this particular property. Okay. You have 15 days to receive it. Upon receipt of the documents, you have five calendar days to review. Within those five calendar days, if you find anything within those HOA rules that you do not like, you can cancel on the property and get your earnest money back. Okay. Everything else I said still applies, meaning that if you cancel because of HOA, but you still paid for a home inspection and an appraisal, you're still going to be paying those fees, right? So it is ongoing with the rest of what I talked about. It lands somewhere in that first two to three weeks. Like you're probably past inspection, maybe going through appraisal at this time. Um, the seller also has to order these docs and deliver them to you. So there's there's a little bit of give and take as far as the exact timing of this, but it's within the first 15 calendar days they're supposed to provide the documents to you. You then get a review period um in order to say yes or no to it. So add that into your timeline if you are buying a property with an HOA or multiple HOAs. If you're not, then you can just basically erase the last couple minutes of me speaking and make it an easier video for you. So, um, anyways, that's it, guys. That is our buyer timeline. I hope it helped you. Um, if you have any specific questions, uh please let us know. If you'd like to download the buyer timeline um from this video, uh please uh reach out to us and let us know. Uh info at powersre.com. And uh we may even create a clickable link for it and see if we can uh give you the information as well. So thank you for watching and we'll see you next time.