Home Buying in 78738>Question Details

Home buyer, Home Buyer in Austin, TX

The closing date

Asked by Home buyer, Austin, TX Wed Jul 31, 2013

I wonder how soon in average , the sellers are willing to vacate the house in Austin ? Is it 30, 60 or more days? Is it unusual to move in at the end of the school year if the house was purchased in early spring?

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It depends on the seller. In this market sellers know that their homes will sell very quickly so typically are not listing their homes until they are ready to move. Closing dates of course are negotiable in the contract.
Most of my contracts state upon closing and funding. Occasionally a buyer may do a lease back to allow the seller extra time to pack up and move, or to arrange for a later move possession.
0 votes Thank Flag Link Thu Aug 8, 2013
As was said everything is negotiable in a real estate transaction. The typical sale I am involved with closes in 30 to 45 days from start to finish. Depending on the sale and needs of those involved a lease back may allow the seller to stay in the property for a predetermined amount of time after the sale is completed.

Every seller has their own motivations just as every buyer has so this is really going to be a case by case process you just need to explore and find out for yourself. Your seller's look to have children and wanted to give themselves a good opportunity to sell the home while not disrupting their children's schooling. While many people may have waited a little longer to list their homes a lot of people understand how long it took to sell a home just a year or two ago and may not have fully realized how the market has changed.

That being said, overpricing a listing is still the kiss of death, even in a hot market where values are increasing you can't expect to list a home and sell it if you do not look at the comps and the competition.

Hope this helps.

_____________________________________________________
Don Groff | REALTOR® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | listings@dongroff.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
Web Reference: http://www.AustinListed.com
0 votes Thank Flag Link Thu Aug 1, 2013
This is a negotiable issue but things do vary from state to state. Here is Florida the sellers typically vacate the premises by the day before the closing takes place. This shock some of those that relocate here and are from areas where they have a certain number of days after the closing to vacate the property.
0 votes Thank Flag Link Wed Jul 31, 2013
Your contact should state the closing date. It all depends on the details of the contract.
0 votes Thank Flag Link Wed Jul 31, 2013
Typically the seller will vacate in 30 to 45 days after date of contract, but as with anything else it is negotiable. It really depends on their motivation and their schedule.

Since you're asking that question here, I assume you do not yet have a Realtor. If you are in the market and would like some excellent, free professional assistance, feel free to reach out to me and I will do all I can to assist. I represent buyers at no cost and I'm very good at negotiating terms such as move out dates, price, etc.

Joe Jarusinsky, Realtor/Master Instructor, Keller Williams Realty, Austin's #1 Real Estate Company, Call 512-261-4415
0 votes Thank Flag Link Wed Jul 31, 2013
Think of this like you would any other terms of the contract, or offer. For example, is the price negotiable? It's up to the buyer and seller to reach common ground.

One thing to consider regarding the "move in at the end of the school year" question: If you purchased a home and required a loan to complete the purchase, you may only allow the previous owner (seller) to reside in the home for 59 days. I believe the lender would consider it an investment, or non-owner occupied home, at 60 plus days.

John Crowe, Broker
Keller Williams
0 votes Thank Flag Link Wed Jul 31, 2013
Would you elaborate a bit more on the last part? ;)
Flag Wed Jul 31, 2013
This is going to be unique in every different situation with every different seller. The preferred closing date should be discussed between the listing agent and the agent representing you when making the offer, to see if an agreeable date can be determined before the offer is submitted. This way, if all of the other terms of the offer are acceptable, you will not receive a counter-offer back on the closing date and possibly allow another buyer to have their offer accepted before you have mutual agreement with the seller. In Austin's competitive market, this could make all of the difference. You, of course, will need to be ready to close by that agreed-upon date, which means staying on top of the lending process (if there is a loan involved) to ensure that the closing does not need to be extended because the loan is not ready to fund.

Feel free to write or give me a call if you would like to talk in more detail.

Tim Andrews
Keller Williams Realty
"Austin's Modern Home Specialist"
512-765-5883
0 votes Thank Flag Link Wed Jul 31, 2013
Is there any way to cut the time involved with closing ?
Flag Fri Aug 2, 2013
negotiable.

30-45 days most common.

Ask the Seller's preference. Sometimes you find out that you both prefer the same thing.

Good luck!

John
0 votes Thank Flag Link Wed Jul 31, 2013
There's no real "Average" These dates are negotiable between buyers and sellers. Typically from the date of contract to closing is roughly 6-7 weeks but there are always exceptions and these get decided between buyers and sellers.
0 votes Thank Flag Link Wed Jul 31, 2013
The typical escrow period(time from contract to closing) is 30-45 days. This is a negotiable item like any other between the purchaser and seller.

Please feel free to contact me if you have any additional questions or would like a detailed analysis on any home or neighborhood.

Steve Nusinow
(512)922-7588
0 votes Thank Flag Link Wed Jul 31, 2013
The way to answer this question is to ask your Realtor to ask the sellers Realtor exactly how long it would be. You can also use a date that is best for you when writing the contract... They can use that date or change it when they accept the offer... In any case.... The answer is.... You can move in when both parties are ready and able o do so... ( you still have to have a mortgage ready as well)
0 votes Thank Flag Link Wed Jul 31, 2013
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