close on your house? Thanks
2006-12-10 10:54:39 · 6 answers · asked by bamamama700 2 in Business & Finance ➔ Renting & Real Estate
Lola stated it best. It all depends on what is needed to close on the property. Usually it's the financing that takes the longest time. The fastest I've seen on bank approved financing is two weeks. Private/hard money, one or two days.
Regards
2006-12-10 11:11:22 · answer #1 · answered by Anonymous · 0⤊ 0⤋
It's whatever is stipulated in the sales agreement. Most contracts will state 30 or 60 days out from when the agreement is signed.
However, if for some reason you know ahead of time that you need a faster closing, most lenders can accomodate closing pretty fast. Also, sometimes the appraisal can hold things up though - if the appraisers get backed up, that will slow down the lender fully approving the loan.
Lastly, if you tell your lender you need to close in 10 days, try to avoid scheduling it at month-end, on a friday.
2006-12-10 11:04:04 · answer #2 · answered by Anonymous · 1⤊ 0⤋
After being pre-approved I closed on my first house in 3.5 weeks.
It all depends on what kind of mortgage,the loaning officer ,real estate broker and your Attorney. I know a friend who waited almost 3 months because the lawyers were in two different states and both had to wait for the paper work and try to find a
"convenient" time to get together.The closer everybody is to each
other than the faster it goes,I guess that's the trick.
2006-12-10 11:05:58 · answer #3 · answered by Lionman 3 · 1⤊ 0⤋
It all depends on what is needed for closing and when the owners plan to vacate the premises. Closing usually takes a month or so. They have to check the deed for any problems and the house may need to be inspected for city violations depending on where you buy a home at. Violations will have to be repaired before the sale. Or in other words, you won't be moving in tomorrow.
2006-12-10 11:05:44 · answer #4 · answered by Lola 6 · 1⤊ 0⤋
Usually a minimum of 30 days. If the house is vacant it can be done a little quicker, but remember the home still has to be inspected and appraised; then go through underwriting (verification of your info, title search on your property etc.). If no problems arise, and you wanted a quick closing, expect about 30 days.
2006-12-10 11:05:34 · answer #5 · answered by Scott B 3 · 1⤊ 0⤋
That depends on several things. Have you and the seller agreed on the price? If the seller has already done the survey, appraisal, etc, you can close within a week or so.
2006-12-10 11:04:52 · answer #6 · answered by MST 4 · 0⤊ 1⤋