How The Home Buying Process Works Apr 2026

: If accepted, the contract is sent to an escrow company. You typically transfer a "good faith" deposit (often around 3% in some markets) into an escrow account. 4. Underwriting and Valuation

: Usually done five days before closing to ensure the property is in the agreed-upon condition. how the home buying process works

: You sign the final closing documents, the lender funds the loan, and the deed is recorded with the county. Completion : Once funds are disbursed, you receive the keys. : If accepted, the contract is sent to an escrow company

: Ensure your total financial obligations (including other loans) stay under 40% of your income. Underwriting and Valuation : Usually done five days

: Research suburbs and inspect properties thoroughly. Experts at Domain suggest reviewing the contract of sale and arranging essential checks (like pest or structural) before committing. 3. Offer, Negotiation, and Escrow