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Old 02-19-2013, 01:13 PM
 
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Quick question regarding closing on regular vs. foreclosed homes requiring addenda, how long is the needed time frame to close with the paperwork back and forth....should be faster than a short sale one would hope....considering time do do a thorough inspection as well.
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Old 02-19-2013, 02:07 PM
 
Location: Port Charlotte, FL
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Most bank foreclosures are the typical turn around time as a normal sale. They do not take as long as a short sale. If you are a cash buyer you can close in a little as two weeks. If you are obtaining a Conventional Mortgage - 30 days. If you are obtaining a VA or FHA Mortgage - 45 days. Those are just standard time frames. Each situation may be different. There are sometimes bank addendums that state exact dates or time frames for each item such as maybe 7-10 days for an inspection period rather than the typical 15 days. It also may depend if the home has multiple offers. Then the bank may take a little longer to respond, but usually only 3-5 days.
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Old 02-19-2013, 02:19 PM
 
288 posts, read 452,763 times
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Thank you TamRe
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