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Old 09-27-2014, 06:22 PM
 
1,626 posts, read 3,903,791 times
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Hi Guys

I have the cash to buy a town home here in Calgary I see some I like that are finished and that are listed as quick possessions. What does that mean exactly? if I pay cash how long does it take to close and take possession on? is there anything I should be worried about?
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Old 09-27-2014, 06:27 PM
 
Location: Austin
7,244 posts, read 21,841,328 times
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Quick possession just means the seller is ready to sell and move on. It doesn't need to take 30-45 days to close.
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Old 09-27-2014, 06:42 PM
 
1,626 posts, read 3,903,791 times
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Quote:
Originally Posted by FalconheadWest View Post
Quick possession just means the seller is ready to sell and move on. It doesn't need to take 30-45 days to close.
How Fast can this work if come in with cash 100%, how long does the converyancing take? does it need to sit around in an escrow account?
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Old 09-27-2014, 07:28 PM
 
Location: Austin
7,244 posts, read 21,841,328 times
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It depends on how quickly you want to run inspections, if you want them, and how long the title company can confirm clear title. It usually takes title about a week, but if they know you need it faster, they can work faster. Either way, you need a few days for an inspection. Deals can close as quickly as you can get your act together to close.
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Old 09-27-2014, 08:21 PM
 
1,626 posts, read 3,903,791 times
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Quote:
Originally Posted by FalconheadWest View Post
It depends on how quickly you want to run inspections, if you want them, and how long the title company can confirm clear title. It usually takes title about a week, but if they know you need it faster, they can work faster. Either way, you need a few days for an inspection. Deals can close as quickly as you can get your act together to close.
I can come with cash in 2 seconds. But I should ask for inspections and what about a cleaning?

Does Quick possessions have anything negative I should protect myself against?
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Old 09-28-2014, 07:54 AM
 
Location: Austin
7,244 posts, read 21,841,328 times
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Get an agent... You don't seem to know anything about real estate, so you're not going to be able to do this on your own.
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Old 09-28-2014, 09:51 AM
 
Location: Bloomington IN
8,590 posts, read 12,381,917 times
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Quick possession simply means that the sellers are able and willing to move out of the house quickly. It's nothing more or nothing less.
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Old 09-28-2014, 10:52 PM
 
1,626 posts, read 3,903,791 times
Reputation: 381
Quote:
Originally Posted by FalconheadWest View Post
Get an agent... You don't seem to know anything about real estate, so you're not going to be able to do this on your own.
I will and I have bought and sold a few times before, It just the term throws me off this is new.
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