Broker Associate, Paragon Real Estate Group
All data from sources deemed reliable but subject to error and omission, and not warranted. CA DRE 01844627
RE/MAX Realty Affiliates
1320 Hwy 395
Gardnerville, NV 89410
It really depends on what aspects of the transaction are cause and effect.
Assuming you are the buyer:
If in the offer phase, then it depends on the sellers' motivation, and whether there is competition or not. If there is competition, and you offer 45 days, your offer price and your down payment or the appraisal guarantee probably have to be much higher If you are in a contract, and have to extend, it still can be affected by whether the seller will grant the extension. If there is no back up offer, they may...but if it was competitive, and there is a It also affects the interest rate, and ability to qualify for the loan. If you locked your interest rate for longer than the escrow takes, then the loan won't be affected. But if your rate lock expires, and you can no longer perform on the loan...then this could be a big, big issue.
It's important to stay ahead of these issues, and a good agent will help you do that.
However, if the seller is looking to buy another home or can't move until their next home is ready, a buyer who can be flexiable with their timeline or accomodate a 45-day escrow could have the advantage.
Ask your agent to verify the seller's situation and preferences as well as current buying trends in your specific neighborhood.
If you're writing an offer on a regular sale but are getting an FHA loan, 45 days is also acceptable
If you're writing an offer on an REO, then the bank pretty much dictates what it wants, 30-45 days is still within their parameters.
Write the offer....then negotiate.
Why would a 45 day escrow "spell a dead deal"??
As Oggi said - it depends on the needs of the buyer and seller.