Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you have good credit and a 20 percent down payment, how long does it typically take to close on a home? If we find a home in June, is it realistic to think we might be in the home by August? The areas in which we want to live do not have hotels or serviced apartments. So, we have a schooling issue. We are not wild about the kids missing the beginning of school in a new town. We are returning home after many years overseas.... We also can't rent for a year and then take our sweet time, as we have a cat and most people won't accept cats in a rental. Any advice?
My husband and I have closed on a house in as little as 13 days from the signing of the contract, and, we lived out of state. Just make sure you get all your bank statments, tax records etc so it doesn't hold you up looking for them.
If you've got all your ducks in a row you can close in ten days. You need a good mortgage person and a good buyer's agent if you aren't familiar with the process; someone needs to be behind it pushing things along.
Usually it is the loan that takes the longest in the escrow process, so talk to your lender, get pre-approved (not just pre-qualified) for your loan, and that part should go very quickly (maximum 20-30 days to close). A couple of things that might delay a closing - the availability of an appraiser (usually not a problem but once in a while can be), and whether or not you're buying in a state that uses attorneys for the closing process. We're used to 30 day closes here in Arizona, but a while back I was working with buyers from the east coast who were selling their home there. The attorneys there were still negotiating minor repairs and price 60 days after contract acceptance!
Bottom line - you should be able to close within 30 days max, but it would be best to check with your realtor about what's typical for the area in which you'll be buying.
If you've got all your ducks in a row you can close in ten days. You need a good mortgage person and a good buyer's agent if you aren't familiar with the process; someone needs to be behind it pushing things along.
If your really good, just got to the court house and transfer the deed and close in 2 hours.
If you have good credit and a 20 percent down payment, how long does it typically take to close on a home? If we find a home in June, is it realistic to think we might be in the home by August? The areas in which we want to live do not have hotels or serviced apartments. So, we have a schooling issue. We are not wild about the kids missing the beginning of school in a new town. We are returning home after many years overseas.... We also can't rent for a year and then take our sweet time, as we have a cat and most people won't accept cats in a rental. Any advice?
If you're pre-approved for a specific loan amount, then absolutely. I think in a shorter timeframe of about a month. 20% down is almost unheard of nowadays as most people seem to buy houses on ARMs with no money down (though that market is drying rapidly up).
As long as you find the house you want and have that pre-approval, the rest should sail through.
If you're pre-approved for a specific loan amount, then absolutely. I think in a shorter timeframe of about a month. 20% down is almost unheard of nowadays as most people seem to buy houses on ARMs with no money down (though that market is drying rapidly up).
As long as you find the house you want and have that pre-approval, the rest should sail through.
This question needs to be answered by a local. We (Nevada) routinely close such situations in two weeks. It is certainly doable in a week or less if actually needed. There are however places where various custom and legal procedures make that impossible.
We would also point out that almost half the local Landlords will accept a cat on a lease. Maybe want an additional payment or security deposit. Again likely to be a local condition so you need to ask someone who knows the locality to which you are relocating. I have moved half a dozen times in the US and done all in less than 30 days.
in NY it takes 3-4 months we had easy buyers and a very smooth deal and it took 3 months, but again that is NY.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
