The home buying process — and what surprises people
From offer to keys is typically 30–45 days. The non-obvious cost surprises: closing costs (2–5% of price), prepaid escrow (months of taxes + insurance held by the lender), home inspection ($400–$700), appraisal ($500–$800), title insurance ($1K–$3K), moving costs. Budget 4–6% above the down payment.
After your offer is accepted, the property goes "under contract." You typically wire 1–3% earnest money into escrow. The next 30 days are: home inspection (general + specialized like termite, sewer scope, HVAC), repair negotiation, appraisal ordered by the lender, final loan underwriting, title search, walk-through, closing.
At closing you sign 50–100 pages. Key documents: the Closing Disclosure (lists every penny of fees — should match the Loan Estimate from earlier); the Deed (transfers ownership to you); the Note and Mortgage (your loan obligation and the lender's lien on the property); the Settlement Statement (final money movement).
Things people don't budget for: utility deposits (a few hundred dollars), the first property tax bill (if it arrives before the escrow account is funded), HOA transfer fees and prorated dues, repair/improvement expenses in the first 30 days (paint, locks, blinds, the inevitable surprise repair).