Home Buying in 92555>Question Details

pkaidiamond, Home Buyer in Moreno Valley, CA

If i PAY CASH FOR A HOME HOW SHORT IS ESCROW?

Asked by pkaidiamond, Moreno Valley, CA Sat Mar 17, 2012

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-->10-17 days. I recommend that you should still conduct the usual and customary due diligence to include a title report, property inspection, the required property disclosures and obtain a property hazard insurance policy and an appraisal is always a good idea.

If a buyer is paying cash, my recommendation (and in my own opinion) is that all buyers get the property inspected right away and use the full 17-day contingency period to discover what you need to discover regardless of whether you are using cash or financing. Remember you can always remove the contingency earlier once you are satisfied with what you need to know about the condition of the property and upon review of the title report. Good Luck!
1 vote Thank Flag Link Tue Apr 9, 2013
It can be pretty quick if all parties agree. Usually the slowest part of the process is the lender underwriting and appraisal, but you can bypass all that by paying cash. If the sellers agree to a quick closing then it's just dependent on how quickly the title company can get documentation together.
1 vote Thank Flag Link Sat Mar 17, 2012
Escrow will be 7 to 14 days.
0 votes Thank Flag Link Thu Nov 6, 2014
IF YOU ARE PAYING CASH TO YOUR NEW HOME PURCHASE, ESCROW WILL CLOSE IN TWO WEEKS IF THERE IS NO PROBLEM IN TITLE SEARCH.
0 votes Thank Flag Link Sat Nov 30, 2013
Hi, underwriting will definitely take majority of the time, along with the different inspections. However, being a CASH buyer will bypass the funding step which can be extensive and a true nightmare. I would definitely say that it should be able to finalize within 14-20 days. Good luck with the deal and I hope it all goes smooth and swift for you. Feel free to contact me at (951)358-9906
0 votes Thank Flag Link Sat Nov 30, 2013
If you are the buyer, You can stipulate how long you want escrow to be. There is no set number however people commonly use 15 days cause it is half a month.
0 votes Thank Flag Link Fri Apr 5, 2013
Cash sales can close escrow often times in as little as 15 business days. Providing the inspection goes well, there are no clouds on the title, and the appraisal goes well.

Keep in mind cash buyers usually can get a 20% discount off list price!


Best of luck to you.

Kawain Payne, Realtor
0 votes Thank Flag Link Fri Mar 30, 2012
Where did you come up with a buyer can get 20% of list?Unless the seller is in a financial mess that's not going to happen. I just sold my home as is and 3% over list. The property is a turn key.
Flag Wed Mar 25, 2015
What price range are you looking to buy, I have couple of new listings in MV. And yes they right it takes about 14 days to close in a standard sale. Call me for more information thank you for your request.
0 votes Thank Flag Link Sat Mar 17, 2012
It depends on whether you are going to do an appraisal or inspections, which I highly recommend you do. If you're just going to buy it you should be able to close in 5-7 days.
0 votes Thank Flag Link Sat Mar 17, 2012
I would say about a week or so.
0 votes Thank Flag Link Sat Mar 17, 2012
I've seen three days but that is scary making sure nothing is overlooked. I would suggest at least 7-10.
0 votes Thank Flag Link Sat Mar 17, 2012
I have closed a cash deal in 4 days. but the purchase was as-is with no contingency period. Most take about 10-14 days.
0 votes Thank Flag Link Sat Mar 17, 2012
It should only take a few weeks, however much will depend on home inspections, title search, all parties involved....
0 votes Thank Flag Link Sat Mar 17, 2012
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