Once you’ve started your search and you’re ready to start previewing different properties, it’s important to be aware of the timeline of events that generally take place when you’ve found that perfect home. In most cases, once you decide to make an offer, it can take an average of 60 to 120 days to complete the closing process.

Here’s a step by step timeline for purchasing:

  • Prepare the Offer: 1 day

  • Negotiate the Offer & Acceptance: 2-5 days

  • Loan Application & Appraisal, Loan Approval and Commitment Letter, Sign Contract/Escrow Deposit: 2-4 weeks

  • Co-op Board Package & Interview/Condo Application: 4-6 weeks

  • Bank & Attorney Prep Closing: 1-2 weeks

  • Final Walk Through: Day of Closing

  • Transaction Closing: 3 hours