2006-10-12 08:49:40 · 6 answers · asked by Ellen W 1 in Business & Finance ➔ Renting & Real Estate
We did it all in about 45 days. We were lucky in that the previous owners had already moved, so we didn't have to wait until they found another house. That's the real problem... waiting for those occupying the house to move out... plus all the paperwork and closing procedures takes time as well. I heard from our Realtor that she actually closed a deal in one week... her client was moving out of the country, so she put a speed process on everything.
2006-10-12 10:24:04 · answer #1 · answered by Mike S 7 · 0⤊ 0⤋
If you are asking how long does the transaction process takes?...then the answer is dependant on:
1) Your ability to have a loan pre-qualified and ready to go...this speeds the process up.
2) The sellers ability to get out of the house. The purchase agreement spells out these terms and they are negotiable and can be enforced within reason (ie: if a seller can't get out by the time agreed to by contract there could be financial compensation for this).
3) The ability to get clear title to the house. Meaning...are there any liens that will prevent the sale?
Provided there are no snags in any of the above then the process can be as little as a week but will average 30 days.
2006-10-12 09:14:28 · answer #2 · answered by Anonymous · 1⤊ 0⤋
There are many variables here including, 1- is the home vacant or occupied? 2- How is your credit, and how long is the loan officer going to need to get your loan done? I have seen cash deals begin to end in 48 hours, but I have seen financed deals take years. An average for a residential contract would be 30-45 days.
2006-10-12 08:54:24 · answer #3 · answered by Anonymous · 1⤊ 0⤋
It depends on a number of factors. Is the house already empty?... How long will it take to secure a mortgage?... How fast a title search will take...How fast can you pack and move?
I just closed on my house August 8 after putting an offer on it just 3 weeks earlier but I believe that mine is the exception. Generally, it probably takes between a month and three months..
2006-10-12 08:58:24 · answer #4 · answered by Dan J 4 · 1⤊ 0⤋
maximum persons do no longer purchase their first domicile until their mid-30s, so there is not any hurry. circulate in with BF in case you p.c. to - regard it as a tribulation run for figuring out to purchase your guy or woman place because of the fact in case you get a joint tenancy you would be caught there for 6/12 months despite in case you p.c. to be with him or no longer. as quickly as you recognize you could stay with him 24/7 then get a *inexpensive* place jointly to call domicile for some years - I say inexpensive, because of the fact the fewer you spend on lease, the extra you could save in the direction of that elusive very own loan.
2016-12-26 17:38:03 · answer #5 · answered by mandeville 3 · 0⤊ 0⤋
2 weeks to 45 days
Matt
2006-10-12 09:45:13 · answer #6 · answered by Matt J 3 · 1⤊ 0⤋