Jamie Bevelacqua Real Estate Services


17 Time Sensitive Steps

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Jamie Bevelacqua

You’ve gotten pre-approved, you’ve found a home you love, and you’re under contract… While you may think closing is the next step, you’ve got 11 more steps to go.


You’re on your way to becoming a homeowner. While you’ve signed the contract, there are 17 steps in the buying process. 

The good news, you’ve already completed 6 of these steps.

And now on to step 7… Earnest Money.

  • Step 7: Earnest Money

    Earnest money is the money that is exchanged with your offer. Now this is something that is negotiable. You also want to keep in mind that this is very time sensitive. That earnest money deposit needs to be received in the timeline that is stated on your contract.

  • Step 8: Lock your Rate!

    You want to lock in your rate. You’ve already been pre-approved and most likely been quoted a rate with your lender but rates change daily. So you want to lock in your rate with your lender so you know what the actual rate is for your loan come closing day.

  • Step 9&10: Inspection and appraisals

    Number 9 and 10 kind of go hand-in-hand. Inspection checks the condition of the home. Appraisal checks the value. Home inspection companies look at functions of your house. They look at the roof, air conditioning, plumbing and electrical systems so you can make the best investment decisions in the buying process

  • Step 11&12: Processer Review and Final Underwriting

    Number 11 & 12 also go hand-in-hand. The Processor Review and Final Underwriting are two internal bank checks that are done to make sure that you haven’t changed employment, that you haven’t gone out and bought are car right before we’re trying to close on the loan and that none of your other financial circumstances have changed.

  • Step 13: Clear to Close!

    Step 13 is a BIG one! The words we’re looking for is CLEAR TO CLOSE! Now this is what our entire team is working towards in this process. The lender could come back with a denial or counter offer but the words that we’re looking for is CTC or Clear To Close. And now that we have Clear to Close, we’re on the homestretch.

  • Step 14: Insurance

    Now it’s time to finalize insurance. You want to make sure you do your homework. Not all insurance is the same. (That’s a whole other video). You want to call your insurance agent and let them know that you are closing and have them bind the insurance policy. And now that we have Clear to Close, we’re on the homestretch.


And now the final three steps…

  • Step 15-17: Finish Line - Congrats!

    And now the final three steps. Schedule the closing. Wire the funds needed for closing. And the big step, #17- Congratulations! You now have the keys to your new home. As you can see, there’s a lot going on behind the scenes during the buying process. While you don’t to worry about all the unnerving details, that why you have me and my team. We will always keep you in the loop along the entire way, making sure it goes as smoothly as possible during a sometimes stressful and complicated process.

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