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Old 06-11-2016, 12:56 PM
 
Location: NY
195 posts, read 192,521 times
Reputation: 243

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We have an accepted offer on a house in Westchester. We've contacted an inspector who will come one day toward the end of next week. We spoke to a lawyer. We're pre approved for our mortgage. The sellers have another house already and we don't need to sell before we buy.
How long does the closing normally take? Just wondering if I'm looking at a month or two on average or if these things normally take 3-4 months or more......

Last edited by jaymtea; 06-11-2016 at 02:02 PM..
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Old 06-11-2016, 03:27 PM
 
65 posts, read 50,073 times
Reputation: 58
We have just sold our house in Westchester. We were told it is typically 45 - 60 days … though sometimes different arrangements can be worked out with your seller. We received offers that asked for 30 days (which we didn't do). The date should be specified when sign the contract after inspection. It may depend on your mortgage company as well. We had an initial date, then needed to extend the date by a couple of weeks.
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Old 06-12-2016, 02:54 PM
 
263 posts, read 242,772 times
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I did a 30 day close and my realtor STRONGLY advised me against it. I said I was in rush and didn't care. It takes longer bc nobody has a sense of urgency. We ended up closing at 32 days. Once all is said and done if you are ready and it's just a matter of scheduling, I don't think there is a risk. I think the real risk comes if you have a basement that is not permitted (which we had ) or something like this. But if you inject the right sense of urgency and follow up on people it can be done pretty quickly. You can budget 45 days for contingencies.
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Old 06-12-2016, 06:16 PM
 
Location: Westchester, NY
71 posts, read 68,983 times
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45 days is a safe bet, some lenders can do it in under 30 days.
In all the contracts (I see) the attorney uses an "on or about" date - they means it can close up to 30 days after the date on contract. The one thing that is concerning to me about your timeline is that your inspector is coming almost a week after accepted offer. In almost ALL Westchester markets, houses are going to highest and best and in general there is just fierce competition. Waiting a week could lose you the house. That being said, I'm sure your not at risk, I can't imagine your Realtor would let you take unnecessary chances. Congrats & Good luck!
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Old 06-12-2016, 07:16 PM
 
Location: NY
195 posts, read 192,521 times
Reputation: 243
Thanks for the opinions - I'm happy to hear that 45 days seems reasonable. I was thinking it was normally close to 90, so that's a good thing!

Amanda, we got the accepted offer Friday, talked to the inspector Saturday, and Thursday was the first day possible because our realtor (also the seller's agent) is out of town till Wednesday afternoon. I think they spoke about dropping off radon tests tomorrow morning, so we're definitely moving along.....
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Old 06-13-2016, 09:51 AM
 
Location: New York
743 posts, read 457,292 times
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We were told that the average Westchester closing process takes around 90 days, and this was pretty accurate. We signed our contract in end of May and closed end of August and had the same situation as you (pre-approved, seller was ready to move, inspection completed right away, etc).

What held us up was the title search process to complete, which was extensive, the attorney delays on both sides, and the village requirement of an independent inspection prior to closing. At the end of the day, we almost missed the closing date due to a couple of missing smoke detectors, which was frustrating. If applicable, the village inspection process will hold up your closing pending any remediation by the sellers, which can send them scrambling at the last minute to make a repair.
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Old 06-15-2016, 08:59 PM
 
226 posts, read 176,062 times
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Generally 6-8 weeks. When we have had an accepted offer on a home, we always had to do inspection next day, the latest, the day after that. If the house had multiple bids, you might want to do the inspection asap- so you can sign the contract and prevent someone else from swooping in with a higher offer.
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Old 10-06-2016, 11:32 PM
 
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Is it a private inspector that is required or a city inspector?
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Old 10-11-2016, 08:28 AM
 
Location: Pleasantville, NY
114 posts, read 477,745 times
Reputation: 50
Herding Cats. That's about what the process feels like... You have to get your bank organized - or they have to get organized. Then the sellers need to be available with their attorney. You need to be available with your attorney. The rep from the title insurer. The bank's attorney...

When we bought our house in 2010, from the time they accepted our offer to the time we were handed the keys, it was about six weeks. My brother-in-law and his wife just bought a house a few months ago, it took them about the same amount of time. So yeah, 40'ish days is about the norm.
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