Has anyone recently bought a home? How long did it take from accepted offer to closing?

Question

Has anyone bought a house recently?

If so...

When did you buy it?

How long did it take from the day the offer was accepted to the day of closing?

How much longer is it taking now with the mortgage / credit crisis?

Thanks everyone!!.

Answer 1

In a non short sale or foreclosure situation, it really depends on the seller.  Some sellers want to get out fast.  Some need time.  Recently I had one guy that wanted to sell us the house and then rent it back from us up to 90 days so he can buy another home where he wanted to go.  Another house I'm doing right now is going to be 30 days.

It's perfectly fine to ask the seller's agent how fast they are looking to get out.  Sometimes that question helps when negotiating also.  You can also put special clauses in the contract saying that you are willing to put up a little extra money for a faster closing if you need to get in soon.

Good Luck!!

Answer 2

It all depends on your title company and lending institution . A closing can take anywhere from ten days to about twent two days ......

There just is NO set rule of thumb for a closing ...sorry ....

Answer 3

The mortgage "crisis" has not effected time for me, unless of course I try to buy a short sale.

My last close took 12 days.

Answer 4

i put in my offer and 32 days latter it was a done deal.but i went through V A..not that it makes any deference.just have all your ducks in a row it should be just fine. thank you for your Question.Don D