Once you have located your dream house and have an accepted offer, the average time before you can move in is around 35 days, if you are financing. If you are buying with cash, you can shorten that time frame by 10 to 15 days. The hardest aspect to account for is how long it will take to find your home, especially in this competitive market.
To move the buying process along fastest, your best bet is to work with agent who does a lot of business in the neighborhoods you are interested in since they will have relationships with other local agents.
Good luck with your search!
I recommend that you lease your 'vacation rental' for at least 6 months while you are househunting. While it is true that the typical escrow period from contract to possession of your new home is 45 days, the Greater Los Angeles area is experiencing a very heated real estate market right now, meaning that most properties for sale are receiving multiple offers.
This means that you may end up writing offers on more than one property before you will be able to finalize a deal. Thus, having a minimum 6 month lease will give you enough time to get the lay of the land here, shop for a home and close the transaction/move-in without unnecessary stress.
Since I am assuming that you are a French national, I also recommend that you start exploring financing options now. Real estate financing for foreign nationals is a bit more complex and usually requires extensive documentation of financial assets and liabilities. Even if you are an all cash buyer, it is important that your assets are traceable and located in reputable financial institutions.
Welcome to Southern California! Please feel free to call on me if I can be of further assistance.
Broker Associate #01142186
It takes an average of 45 days from the day your offer is accepted until the time you close. There are variables that might make the time shorter or longer. For example if you are paying cash for the house you could own the house in ten days. The loan is what always takes the longest.
One thing to note is that inventory is really tight right now and it is not easy to find a house to buy. Finding the home will most likely take longer than the purchase process.
In what city are you looking? I could help you if you're looking in my areas. And I might suggest you rent a place for at least six months because it could take that long for you to find something.
Good luck and welcome to Los Angeles!
Search for properties now at http://www.gallatingroup.net and work with an agent who knows the LA area very well.
The length of the Escrow can vary, a lot; if you buy an Foreclosure, it can be 45-60 days.
But you will know the CLOSING date; normally, you will be able to move in the following day.
Once you close escrow, you can move right in...assuming that it is in good condition...if it needs work, then depending upon what you will do to the property, that would be the delay.
Escrow periods range from 30 to 60 days or longer...it is what ever is stipulated and agreed upon in the purchase contract.
Feel free to give me a call if you require further clarification or if you have any questions.
All the best,
Kat Becker, Realtor
Prudential California Realty