Just bought my first house, wondering about the timeline... (appraisal, agent, mortgage)

[justwrestle]

Day 1- Made an offer of 205K plus 7K in closing costs.
Day 2- Offer accepted (listing price was 209K)
Day 3- Home Inspection Completed
Day 4- Nothing
Day 5- Seller agrees to fix everything in the home inspection (including new windows) We now have to wait for an appraisal before we can do anything else and has been two weeks already, then we have to have a re-inspection.

Does this sound right?

I only have a couple weeks left in my rental and I was hoping to move in with plenty of time to spare, but now I am getting worried.

Thoughts?

[KonaKat]

What does your realtor say? Your escrow officer? Your lender (who ordered the appraisal)?

Normally when one enters escrow there is a clear closing date communicated to everyone involved and a common time frame is about 45 days from beginning to end.

[middle-aged mom]

Your contract should specify a closing date that you and the seller agreed to.

Assuming you need a mortgage to close, your timeline sounds a tad aggressive.

[NinaN]

Has your lender ordered the appraisal? Has the appraiser been to the property? These are questions you should be asking your lender. Agent can help too. Don't just sit around and wait, get the agent and lender to write you out a timeline of what to expect and when.

[manderly6]

Do you not have a contract with a closing date?

[fallingwater]

I have bought several homes and usually when the offer is accepted the mortgage company (if you are obtaining a mortgage) give you a timeline then. It can adjust but in my experience (unless something major goes down) it is pretty much in the ballpark. In my experience it has been about 4 weeks.

[justwrestle]

Thanks, the bank ordered the appraisal.

The contract states we are to close on the 22nd. I was just hoping I could move faster.