For clients who like to buy fast, I always suggest to avoid short sales and look for clean properties. With no complications and a good title company ( not very common in Miami) a sale can be closed in 20 calendar days. It could be even less but in Miami efficient service scarce.
It all depends if the property you are buying is a short sale, a REO or a regular sale and if it is subject to any type of association approval. Also you need to consider the time the inspection of the property will take and all the paperwork with the title company.
Normally if there are no problems, and is a regular sale (no short sale or REO) and there is no need of any type of approval from association, you can close in 10 days once you find the property and your offer is accepted and the contract signed.
If you need assistance in finding the property, please let me know. You can reach me at 786-406-0503 or at Fortune International Realty 305-460-6749 direct.
Wishing you the best of luck and welcome to Miami, you will love it here!!
Vivian de Marchena
Fortune International Realty
2401 S Douglas Rd
Miami, Fl. 33145
Mortgage Broker responds:
How fast do you want to close? If you are an attention to detail and good record keeper, as little as 18 BDs.
With values going back up, rates in the upper 2% range for qualifed borrowers and closing costs paid for them, now is a good time to buy.
see loan programs: http://www.pro-option.com
I think you can gather from the responses you have received so far that there are some factors that may come into play and can determine the length of time it can take to close on a purchase. As you have indicated you would be purchasing as a cash transaction, the closing would not take more than about two week, so long as the title is clear and there are no unforseen title issues. Additionally, if you are looking to purchase a property that is within a condo or homeowner's assocation, depending on the association that can add time to your expected closing date as some associations to take somewhere between 1-3 weeks to approve buyers' applications. Another thing to consider is whether the property you are purchasing is occupied and the agreement you may have per the contract for the occupant. These are all factors that can factor in to the length of time to close. With the assistance of your Realtor he/she will be able to provide you with more detailed timeframes depending on the circumstances on a particular property. Good luck with your purchase search. If you have any addtional questions please feel free to contact me.
RE/MAX Advance Realty
It all really depends what type of sale it is. If its a traditional sale, it can close within 10 days if it's a cash deal. If its a foreclosure or short sale, it can take a while.
If you send me the property you have in mind, I can check it out for you.
Alex Cabrera, Broker - President/CEO (CDPE CSSA)
South Coast Realty Inc.
(Certified Distressed Property Expert)
(Certified Short Sale Agent)
If you're thinking about buying in Florida, buyers do not pay the agent a commission, only the seller does do I would definitely work with one.
Best of luck,
Engel & Voelkers
305 206 8867
It all depends, if it is financing it can take 30-45 days. If you are a cash buyer you can close within 10-14 days. Also if their are any liens on the title then it can take a little longer to close, but if the title is ffree and clear that speeds up everything As long as anyone you are working with has everything in order you can close within a reasonable timeframe. If you need anything else feel free to reach out to me with any other questions.
Keller Williams Realty
There are many factors and timelines that the seller and buyer have and if both are willing to work together to close then the closing will go fast. What takes up the most time is the title search. A title company begins a title search of the property to find out who actually holds title to the property and if there are any claims (liens) against the property. They also verify the legal description of the property (address, lot number, parcel number, permitted improvements, etc.). A complete title search takes about 30 days. But a preliminary title report is usually available within a week or two.
Emerald Enterprises, Inc.
Real Estate DIvision