There is not really a blanket answer for that question. It depends on a variety of reasons. Are there contingencies to be satisfied in the contract? If so, time should be allowed for those. What type of loan are the purchasers getting, if they are getting one at all? Typically, one should expect a 30-60 day turn-around time from contract to close. If it does happen to be an all cash deal, or traditional bank loan, that window could be less than 30 days. However, if the financing instrument being used is a secondary market loan, then I would expect 30-45 days, maybe more, again depending on the loan type and season.... more
Depends on turn-around time for title search, any inspections, and/or survey (if applicable).
Typically, in my area an all cash deal can be closed in 3 weeks or less. I have experienced transactions where the closing was 7 days or less from contract. Closing cost should be significantly less , again, depending on charges for the above mentioned items, plus the cost of the closing agent to conduct the closing. You will also have recording fees if you are purchasing, which need to be taken into consideration.... more