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04-06-2007, 03:13 AM
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How long does buying a house take?
We're relocating to Pittsburgh wih my husband's company. We're intending renting for the first few months till we find a house, putting our stuff in storage, but wondered how long it generally takes to complete a house purchase?
Thanks!
Last edited by Rona; 04-06-2007 at 03:14 AM..
Reason: mis spelt
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04-06-2007, 08:49 AM
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From What I Know If You Don't Have To Sell A House Before You Get A New One- You Can Get A Mortage And Close Within 2 Months. Sometimes It's Even Shorter
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04-06-2007, 09:44 AM
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if you have never done it before or have sketchy credit, 1 full month to 3 months may be possible. If you have purchased before and have all your paperwork in order, you may be able to close within 2 weeks from an accepted offer.
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04-06-2007, 09:46 AM
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2 months is about standard, sometimes shorter or longer depending on the circumstances.
If you're a first time home buyer (or haven't owned in 3 years) there are a lot of programs out there w/ grants available. Be sure to ask about them when you start talking to lenders. I had a client recently that received $5000, it really helped w/ closing costs.
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04-06-2007, 10:27 AM
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Real Estate Agent
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Join Date: Jul 2006
Location: Newtown Square, PA
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good credit, pre-approved, once you have an agreement signed it can take 2 weeks to close, or you can stretch it out till when you want to close
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04-06-2007, 08:43 PM
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FYI, you should make sure that in the agreement is signed, there is nothing in the agreement that sets a closing date less than 3 months away. If you do sign an agreement like that and your first loan company does not come through in time, you can get into a situation where you have to pay what is basically a fine per every day you don't close... this can be as high as the seller wants, so watch out for that one.
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04-08-2007, 11:15 AM
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STAND FOR SOMETHING OR FALL FOR ANYTHING...
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Join Date: Oct 2006
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Quote:
Originally Posted by Rona
We're relocating to Pittsburgh wih my husband's company. We're intending renting for the first few months till we find a house, putting our stuff in storage, but wondered how long it generally takes to complete a house purchase?
Thanks!
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it is very fast in pa .I purchased a home in clarks summit,pa and between the contract and closing it was less than a month
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04-08-2007, 06:35 PM
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Senior Member
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Join Date: Nov 2006
Location: Harrisburg PA
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It took us about 2 months total, around that is an average time, you have to show all kinds of proof of income and stuff like that, bank statements, bills that you currently owe, background checks (sometimes) and credit checks. It depends on your schedule and the sellers schedule. They also have to do title search and other things like that.
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04-08-2007, 06:42 PM
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Senior Member
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It varies. I bought a house once before and the offer was accepted in September and we didn't close until late December. The inspection turned up an underground oil tank that had to be removed under EPA supervision. Also there is no telling how long it will take you to find a house you and your husband like. If I were you, I would plan on this taking 3 - 6 months, just to be safe.
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04-08-2007, 07:49 PM
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Falls Angel
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Join Date: Jan 2007
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I never bought a house in PA, though I sold one there (my mom's). I remember after we had the final offer it didn't take too long to closing and was fairly simple, but I agree with Christina, the house hunting may take a while.
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