Home Buying in Mesquite>Question Details

Joey389, Home Buyer in Mesquite, TX

how long is too long to close?

Asked by Joey389, Mesquite, TX Sat May 19, 2012

We went into executed contract on mid march and its now may. Is this too long too close.

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Lisa Montes’ answer
The average is between 30-60 days. It really is the agreement between the Seller and Buyer and what works best for both parities. Some take more time and some want out immediately. It is in your contract what works best for all involved.

Lisa Montes"Your Home Retriever"
0 votes Thank Flag Link Mon May 21, 2012
We put a contract on what considered a 90 day flip which requires 2 apprasials. 1st appraial came went underwriting and did not ask for a second appraisal. Underwriter ends up quiting or terminated and loan gets reassinged.takes 2 days for a New underwriter who is now is asking for 2nd appraisal. The person that was assigned apprasal ends up quiting and taks a couple of day for it to be reassigned. 2nd apprasal comes in, and underwriter wants gutters to be cleaned. That took 4 days. Underwriter receives recipts of work that needed to be done. Takes 1 week. Finally the underwrter recieves it and now they are saying there is a dispute in my credit report they they are trying to get rid off. How much longer is this going to take or do I need to look for a new mortgage broker or lender?...
0 votes Thank Flag Link Sun May 20, 2012
Where is your buyers agent to explain all these particulars ? Your executed sales agreement would state the closing date .

No professional can render an opiniion unless all documents are reviewed.

Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor

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0 votes Thank Flag Link Sun May 20, 2012
Depends on all parties. Some people want more time to move.... yet put the home on the market early.
If it is too long for you, find another home?
0 votes Thank Flag Link Sun May 20, 2012
It's a subjective question.
It is if you think it is.
0 votes Thank Flag Link Sun May 20, 2012
Though there is no set timeframe except what is agreed upon in the contract usually 30-60days is average. What was the date "to close no later than" in the contract? if it is still within that date or if all parties of the contract have agreed and ammended the contract to close later that is ok. If the time has lapsed than I would demand an explanation on why your agent and the other agent have let it go "out of contract" meaning past the close date! This is a big no-no in the real estate world as you are not truly representing your clients interests. I wish you all the best.

Best Regards,
John Greer
United Real Estate
0 votes Thank Flag Link Sat May 19, 2012
Was the property a short sale? If it wasn't then you should have closed by now. I would ask your agent what is going on.
0 votes Thank Flag Link Sat May 19, 2012
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