Financing in 55337>Question Details

Pam, Home Buyer in 55337

Is it possible if I want to close the house within 2 weeks after offer accepted by HUD?

Asked by Pam, 55337 Wed Nov 28, 2007

I already have been pre-approved from lender.I am planing to put the bid on HUD home and I would like to know if it is possible to close the house within 2 weeks after offer accepted by HUD?

Pls adv. Thank you!

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Hi Pam,
Two weeks is definitely a quick close. Typically, the title work on both the buyer and seller sides will take less than a week to get done. The lender package (mortgage) which usually takes the longest, can be done in that amount of time also, but it'll take a working with your lender and your lenders close attention to walk it through the process to make sure it gets done.
I'm hopeful it all works for you!
Thanks, Todd
2 votes Thank Flag Link Wed Nov 28, 2007
Pam....

If you financing is in place you would need to get inspections and appraisal complete after HUD gave their approval. if your agent and lender are in sync it may be tight but it can be done. Good luck.
2 votes Thank Flag Link Wed Nov 28, 2007
Pam Winterba…, Real Estate Pro in San Ramon, CA
MVP'08
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While anything is possible, this is very unlikely. The normal timeframe is more like 4 to 6 weeks. However, if you have gone through the mortgage underwriting process, that will help.

Good luck!
0 votes Thank Flag Link Thu Dec 27, 2007
Thanks a lot Pam and Michael. :)
0 votes Thank Flag Link Wed Nov 28, 2007
Hi Pam,
It will be tight but it could be done. Ask your lender if they see a problem or not. The person handling the sale for HUD may counter your offer to move the closing date back if they can't get everything done on their end. It also will depend on what you offer, the lower the offer the more people who have to review it.
Michael Doyle
0 votes Thank Flag Link Wed Nov 28, 2007
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