Home Buying in Griffith>Question Details

Me, Other/Just Looking in 46375

When a home goes Contingent SI (subject to inspection?) how long does it generally take before it closes?

Asked by Me, 46375 Thu Sep 3, 2009

This is not the first inspection and there should be no problems.

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You say it's not the first inspection but unless you paid to have it inspected before, do you really know what the results of the inspection were? After all, they apparently didn't buy it so perhaps the inspection didn't go so well. (By the way, given your question and location I think I might know which house it is. That would be mildly amusing to me) There are 10 days usually for an inspection to get completed, then 3 days to respond. Then if the response is that something needs to be fixed you've got another X number of days, and so on. So you see it's not just 10 days to inspect plus time for financing, there could be several times when days are added to the length of how longs it's SI (subject to inspection) Okay, but once the inspection phase is FINALLY over (and only the seller and intended buyer know for sure) you are looking at another 10-45 days to close. Why such a range? If it's a cash deal and simple title work it could be less then a week. If it's financed and the buyer hasn't gotten a pre-approval, and no one has even thought about ordering title work yet it could be much longer. Next question, please feel free to call me. Some of these questions can be hard to answer without being able to get more details about the circumstances.
Pamela Howell
Technology Committee Chairperson
3 votes Thank Flag Link Fri Sep 4, 2009
It depends on how fast the mortgage can be processed, and there is no issue with the title search, municipal report,or inspection
0 votes Thank Flag Link Sat Apr 26, 2014
This depends upon your lender if you are the buyer. If you have turned all of your paperwork in that the lender needs, many lenders can get this closed within another two-three weeks after inspections day time frame. What does your contract say? Your contract should have a closing date on it as well.
0 votes Thank Flag Link Sat Apr 26, 2014
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