What is the average time for obtaining third party approval in a real estate purchase?

Question

I am looking to buy a home in the near future and a lot of the inventory in the area will require third party approval. I would ideally like to close around 3/15/09, so I need to figure out when the best time is to truly get started. I am already taking into account normal drama that can occur with real estate sales (not finding exactly what I want, chosen home not passing inspection, etc), but if third party approval takes significant time (four or more weeks), I need to take that into account to stay on schedule. Thoughts?

Answer 1

It depends on who the third party is, if it is a bank it could be 9-12 weeks.

Since this is an issue just make sure your agent knows you need a move in ready, easy transaction.    No short sales.   No probates (can be years there).  No REO's.