sellingthebo…, Home Seller in Bulls Head, Staten I...

What is the average time it takes now to close a sale in the upper bracket homes above $900K?

Asked by sellingthebomb123, Bulls Head, Staten Island, NY Sat Aug 24, 2013

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6
Selling......

There is absolutely no connection between a home's price and the duration of time necessary to close the transaction.

The major factor for this is whether or not the transaction is a "cash" purchase or being financed. While a financed deal can require upwards if 45 days and cash one can be completed in a matter of days.

Good luck,

Bill
1 vote Thank Flag Link Sat Aug 24, 2013
It takes the same time as any other deal that has a mortgage. It all depends on the bank the lawyers, selling agent and buying agent working together. Since there is no management company like a condor some townhomes, that is one less headache to deal with.
0 votes Thank Flag Link Sat Aug 24, 2013
Generally it can take four to six weeks, provided no issues arise....
0 votes Thank Flag Link Sat Aug 24, 2013
Home price itself should not have anything to do with time frame of closing. Typically a cash deal will close as soon as the buyer can receive a clean title which could be as fast as 1 week. If the buyer is receiving a mortgage that will add time to the process. If the buyer is highly qualified and does not drag their feet with the mortgage process, they should be able to close within 8 weeks
0 votes Thank Flag Link Sat Aug 24, 2013
I agree with Bill below. Right on.
0 votes Thank Flag Link Sat Aug 24, 2013
From my experience on Staten Island, cash deal usually 1-2mos, mortgage related usually 3 months.However, issues with mortgages, estates, engineer inspections etc.can cause delays.
0 votes Thank Flag Link Sat Aug 24, 2013
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