time frame for a house sale from showing to closing averages what?
August 31st, 2010
we have a house for sale and the buyer saw the house on some real estate website. They viewed, offered, and their conventional loan is allowing for a closing only 27 days after they knew the house even existed. This seems short. Are they in a hurry? Is this short time frame typical of conventional loans? I think he was going with an FHA loan but closing would have been in mid August.
In your expereinces or knowledge what is the shortest closing periods? I guess cash could make things go fast. I’ve always heard 30 to 45 days, not 26 to 27. Are closing periods different depending on the type loan? How long can the real long ones take? I know repairs asked for or needed can delay things, maybe some unknown legal issue like an unknown spouse that comes forward to claim half the house for sale by the sole owner, so I can see reasons for delays. Thanks
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Posted in Questions & Answers | Comments (2)
August 31st, 2010 at 10:09 pm
Most sales contracts call for the house to close within 30 days. And it doesn’t matter what time of loan it is. Perhaps they are just in a hurry to move because of their present living circumstances.
August 31st, 2010 at 10:51 pm
Does your contract have the closing date ?? If you need more time you can alwas close early and rent back from them.
I bought 5 houses and every time it’s a little different depending on the loan, the state ,the company and of course now the government has its hands all over that stuff….. Good luck.