buying a house...how long would it take to move in..?

Question

hello guys i want to buy a house for the first time..a small condo..how long would it take for me to move in...is it all possible in 2 weeks or does the closing take months???

Answer 1

You could stipulate a 2 week close date but be prepared for it to be postponed because the lender didn't have the paper work done on time, the appraiser to get his paperwork done on time or the title company to get their paperwork done on time. And if there are people in the condo, then it would be kinder to give them 30 days to be packed and moved by closing.

You can try but chances are it won't go thru in two weeks.

Answer 2

Not sure what the average transaction time is in your State.

(I am a Realtor in Michigan) ... If you are securing a mortgage. .... Then first you need to get pre-approval from
a reputable bank or mortgage company. Once you have
chosen a Condo .... and your offer is accepted. (Obviously
I would recommend that you consult a Realtor for this)

After your offer is accepted ... Then your loan officer will
began the FINAL APPROVAL process. This process can
take 2-4 weeks. (And if there are "issues" it can take longer)
Once you have an "official clear-to-close" from your lending
institution .... then a closing date can be set.

So (again) from the time your offer is accepted. It can be
anywhere from 2-4 weeks to closing. If the Condo is
occupied .... Then you and the Seller must agree (in writing)
on how long the Seller will have to vacate the premises.

I think doing everything in ONLY two weeks would be unrealistic. (Now if you are paying cash .... then it MIGHT
be possible to close in "around" two weeks) ... But unless
the Condo is already vacate .... Then you still need to allow
time for the Seller to move out.

Hope this has been helpful! Best Wishes in the Search for
your NEW HOME!

Answer 3

Where is the money coming from?

If there's a lender involved, they'll need time to do a credit check, get the flood certification, order title work and an appraisal, maybe a survey depending on the state where the property is located. Anything more complicated, like a gift or a purchase money 2nd mtg will add time. If you're self-employed, it may take longer.

Even in there's no lender, you need an inspection and title insurance. NOT having these would be a major mistake.

Many lenders can close a loan in 2 to 3 weeks, if you give them the information they need upfront, and don't try to fudge your income or assets. Everything has to fall in place, but yes, it can be done in 2 weeks or so. Unless the title work is already done -- like a different loan fell through -- less than that is pretty impossible.

Answer 4

Moving in in two weeks is possible, but most of the time it takes at least 30 days from start to closing. Is the condo vacant? If it is this make it easier to move in quickly and get any inspections etc done.

Answer 5

Hi DaveDave,

If you're financing the purchase, check with your lender. Some lenders can do speedy closings in 2 weeks! Especially if it's new construction and the home is ready to go!

A "normal" closing takes about 30 days (1 month).

Answer 6

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Answer 7

I have got people in their home in 3 wks. the financing takes the longest do your part and push forward! Good luck