Home Buying in 78730>Question Details

Dave Drayer, Real Estate Pro in Austin, TX

What time frame are you seeing from contract to close is this market?

Asked by Dave Drayer, Austin, TX Thu Oct 11, 2012

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11
Hey, I just realized that question is from October 2012!
0 votes Thank Flag Link Sun Mar 31, 2013
I am playing safe @ 45 days mostly. Cash offers 3 weeks since title companies are busy.
0 votes Thank Flag Link Sun Mar 31, 2013
Right now I am seeing 30-60 days to close when dealing with lenders. When there is a crush of buyers the lenders can get backed up and need more time to complete the file. Cash buyers are generally much faster, 30 days or less.
0 votes Thank Flag Link Sun Mar 31, 2013
Like everyone else answer 30-45 days is typical in the Austin area, again that will depend a lot upon the type of transaction. To play it safe I generally recommend 45 day close.

Best of Luck!
0 votes Thank Flag Link Sun Oct 21, 2012
Most of the deals I've worked this summer are 30-35 days. Seems the processing/underwriting has improved (certainly with the better lenders and mortgage brokers). In fact, I had a broker come in behind USAA on a VA loan and had it approved/ready-to-fun in 14 days.

Still, I build 35-45 days into most contracts. Exceptions allowed.
0 votes Thank Flag Link Thu Oct 11, 2012
If is a financing transaction it can be done on 30 days or less on a regular sale. If is a shorta sale it could be up three months. It depends on what kind of transaction you are refering too.

Best of Luck,

Maria Cipollone

http://www.Flahomespecialist.com
0 votes Thank Flag Link Thu Oct 11, 2012
Depends on the type of transaction, David. If it's a straightforward FHA or Conventional, my lenders are getting it done in about 30 days, 45 tops. Some other types can take quite a bit longer, depending on the situation… Joe
0 votes Thank Flag Link Thu Oct 11, 2012
David,

45 to 60 days on most properties and even foreclosed properties.
Longer on Short Sale closings though. The Seller being anxious and the Seller's Lender holding out.

Most of my Clients are avoiding Short Sales unless it is the dream property and they have time to wait.

Let me know when I can help you find a property.

Bill Friedrich
512-517-2961
0 votes Thank Flag Link Thu Oct 11, 2012
Thanks Bill.
Are you writing 45 days in your offers?
Flag Thu Oct 11, 2012
My experience is average 45 days, including distressed properties, VA and USDA loans.
0 votes Thank Flag Link Thu Oct 11, 2012
I agree with Jeanne, unless we are talking about cash. Then, as you know, that time frame could be as little as a week.
0 votes Thank Flag Link Thu Oct 11, 2012
I am still seeing 45 to 60 days as very possible unless you are talking about a distressed transaction in which case the sky is the limit.

Best,
Jeanne Feenick
Unwavering Commitment to Service, Unsurpassed Results
0 votes Thank Flag Link Thu Oct 11, 2012
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