A cash transaction can close as soon as inspections, title search and deed preparation is completed...in a week.
Transactions involving a loan depend on the lender. Most banks and mortgage brokers ask for 30-45 days from contract/loan application to closing.
Best of Luck,
It appears that several people have already responded and you now know that a closing can typically take 30-45 days for a conventional loan. Please note that the closing date can also be further out if that is what you prefer to negotiate. It is not unusual for Buyers to ask for 60-90 days or more, though that extended closing date is a risk to the Seller that may cause them to negotiate for more earnest or due diligence monies.
There are different strategies in negotiating and I will be happy to consult with a fellow yankee if you want to talk. Mark 919-960-6332 firstname.lastname@example.org
USDA RD loans are the only ones needing more time now since the USDA is currently on 18 business day turn times (vs. the typical 5-10). This year we've been planning 45-60 days for those loans to close.
More than likely,your REALTOR is going to consult with you to have inspections; home inspection, pest inspection and the bank required appraisal. A due diligence date will be acknowleged by the buyer and seller in which these inspections are going to be completed. Depending on this date and the settlement date of the contract it could take between 30 and 60 days. The lender will be a determining factor after inspections and due diligence repair request is satisfied.
If you need further explanation just give me a call...919-599-7688. Or email at; email@example.com
We actually encourage our clients to load their docs first right at application to get a real pre-approval vs. just a pre-qualification. More info at http://www.raleighdurhamhomeloan.com.