Home Buying in 40515>Question Details

dandjfoot, Home Buyer in Lexington, KY

Looking at closing times

Asked by dandjfoot, Lexington, KY Wed Feb 13, 2013

Hi, we are looking at moving to Lexington from Australia in the near future. Having never brought property in the US, we are wondering how long closing will be. We will be paying cash as no credit score in US, although my wife is a US citizen. Thanks for any help offered.

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If you are paying cash you should not have to worry about much in terms of closing time. Perhaps 10 days to allow for title search, which is in your best interest. My home is on the market, let me know what you are interested and if you need any assistance from someone here in Lexington. I've always wanted to visit Australia. ryankorosec@gmail.com
0 votes Thank Flag Link Fri Oct 11, 2013
Since you are paying cash you are in the drivers seat for the closing time. You have the choice to have an inspection, appraisal and a termite inspection. Those can take up to 2 weeks to get worked out. If you get a great deal on a home and purchase it "as-is" then you can close within a couple of days. I highly recommend always getting a home inspection though. An attorney will need to prepare the deed and title search. All in all, with a cash deal, you can close a lot faster than with a mortgage.
0 votes Thank Flag Link Thu Sep 19, 2013
It can take a matter of days to close. The attorney needs to do a title search. Having said that: I strongly recommend a home inspection which can take up to 14 days to get a good home inspector plus it depends on how long a seller needs to move. I often have cash buyers who want to close fast only consider a vacant property. The good choice is to allow 3 weeks from contract to closing but I have had buyers close within a week.
0 votes Thank Flag Link Wed May 8, 2013
It takes about 30 days to close a loan nowadays if there are no appraisal issues to resolve.

Joel Lobb (NMLS#57916)
Senior Loan Officer
502-905-3708 cell
502-813-2795 fax

Key Financial Mortgage Co. (NMLS #1800)*
107 South Hurstbourne Parkway*
Louisville, KY 40222*
0 votes Thank Flag Link Wed May 8, 2013
I am selling my house in the Hamburg area of Lexington, KY. It is just a 1,050 square foot home, with two full bedrooms and two full bathrooms. Also has a pretty new A/C unit, a great alarm system that can be used now, and a one car attached garage. Let me know if you want to know more.

Hope to hear from you soon !

-Les Bradley
0 votes Thank Flag Link Mon Apr 1, 2013
Are you looking for an agent to give you an comparative market analysis for help you determine a list price or a agent who may have a buyer for your property because you want to sale by owner?
Flag Mon Apr 1, 2013
Cash buyers can close as quickly as 3 to 4 business days. The delays would be a seller being able to close that quickly and more importantly is the time it will take to schedule a home inspection from a well qualified inspector...that may take a week to 10 days to get on their schedule. I have friends from Australia currently living in Lexington. Please let me know if you need additional info on the housing market in Lexington. If you contact me I will also send you copies of real estate documents so you can get a list of questions on how real estate works in Lexington.
0 votes Thank Flag Link Sat Feb 16, 2013
From accepted offer to closing is about two weeks on a cash deal. In addition to the comments from other brokers, I would like to say that you will need to allow time for the transfer of money. Amounts in excess of $9,999 sends up red flags and the money trail must be verified from start to finish. As a local expert, My company and I have all the resourses to make you transfer as smooth as possible. From relocation assistance to Electronic signatures of paperwork. Feel free to contact me via email dans@rhr.com or 859-494-5065
0 votes Thank Flag Link Wed Feb 13, 2013
The home inspection and the title are not going to be what holds up a closing. Those can be done extremely quickly. Since you are searching from out of town give me a call and I can go do tours of the homes on my phone and email you the video Stacy Heilig 859-494-1558. Homes@stacyheilig.com
0 votes Thank Flag Link Wed Feb 13, 2013
You will want to do a title inspection and then because wires can be withdrawn you will most likely need to wire the bank the money as many as 10 days prior to closing to insure that everything is legit. So 10 days
0 votes Thank Flag Link Wed Feb 13, 2013
A week or two would probably do it!
0 votes Thank Flag Link Wed Feb 13, 2013
With a cash offer you could close in less than a week. Realistically though, you want to have a home inspection and a wood infestation inspection (a termite inspection for all practical purposes) performed. You may need to negotiate some repairs. If the home is occupied the sellers will need some time to organize a move as well. I think you will find somewhere between 21 to 30 days from the signing of the sales contract to the closing as a good frame of reference.
Web Reference: http://www.turftown.com
0 votes Thank Flag Link Wed Feb 13, 2013
It would be fairly quickly, it could take up to a week. We would want to make sure the house you want to buy has a clear title. I would be happy to be your realtor and help you find that perfect home. Welcome to Lexington. Nancy
Web Reference: http://Nancysmith.rhr.com
0 votes Thank Flag Link Wed Feb 13, 2013
I am a realtor in Lexington and what Mike said is accurate here as well.

My email is agapehomesinc@gmail.com if there is anything else I can help with. If you want to send me some search criteria, I can send you some listings.
0 votes Thank Flag Link Wed Feb 13, 2013
If you're doing a cash purchase, then you can close as quickly as 1 day. Most likely, you'll have to wait for the seller to wrap up their paperwork before closing, which can take around a week.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Wed Feb 13, 2013
Thanks for the prompt reply, only have settlement in Australia to go by experience wise. Was more worried things could drag on for months, scaring ourselves reading past posts.
Flag Wed Feb 13, 2013
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