Two closings on the same day

[FalconheadWest]

Originally Posted by evilnewbie

How long do closings last? I can't imagine it taking more than several minutes... Luckily I did not need to be present when I closed but I was curious what "happens" during closing...

The seller's side is typically about 10-15 minutes. The buyers side is about 30-45 minutes, but can be longer if there is a lot of talking and story time going on.

[Rakin]

Originally Posted by evilnewbie

How long do closings last? I can't imagine it taking more than several minutes... Luckily I did not need to be present when I closed but I was curious what "happens" during closing...

In the sellers case maybe 20-40 minutes depending on how slow everyone is. The sellers are normally easy.

Buyers can take as few as 15 - 20 minutes for someone paying cash to 60-90 minutes for someone with a mortgage who needs to sign a lot of paperwork.

So much of it depends on the individual. There are certain detail financial, engineer, lawyer types who want to read every word of every document. In that case we have made arrangements with the title company to get all the documents several days in advance. You give these people a work room and their closing documents cause it will take them 4-8 hours to read it all.

[cheryjohns]

Here the sellers can sign everything in about 20 minutes - but it takes about 45 minutes to an hour for the buyers if not cash. If the lender is good, it will fund within 30 minutes. Then the second closing can take place. I have had it where the one doing the sell/buy had family in helping and once closed on house number 1 - the movers started packing the truck - by the time the second house was funded, movers were on their way to the new house. That's dealing with the same title company - and having reliable lenders on both sides.

[Brandon Hoffman]

It can be done but you need everything to come together just right. I'd suggest using a reliable mortgage lender and the same attorney for both closings.