Closing on a house

Asked by Kkeogh1974, , Sun Apr 1, 2012

How long after the inspection on the house will we be closing and when will the realtors stop showing the house

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6
Anna M Brocco, Agent, Williston Park, NY
Sun Apr 1, 2012
As for the showings--Much depends on the instruction the listing agent was given by the seller; therefore ask your agent the question; if you are concerned that other offers may be forthcoming, consider signing the contract as soon as possible. As for closing time, your attorney and or loan officer can best answer the question, based on your contract...
1 vote
Bill Eckler, Agent, Venice, FL
Mon Apr 2, 2012
K,

Your contract should specify your closing date...any other closing date would have to be agreed to by both you and the seller. On the issue of when the property's showings will stop: this generally happens when all contract related contingencies have been satisfied.. financing, inspection, review of HOA docs. etc.

Good luck,

Bill
0 votes
Gail Gladsto…, Agent, 11743, NY
Mon Apr 2, 2012
Typically showings stop when you are in contract.

After you have a property inspected, the next move is to go into contract. If you are in an area that uses attorneys, the seller's attorney will draw up the contract and send it to your attorney. The period of time involved depends on how fast they move and how many changes and if there are further issues to be negotiated.

if you are using an attorney, stay involved with what issues the attorney may be bringing up with the seller's attorney. Ask to see the contract from the beginning. Stay involved.
0 votes
Terry Koraha…, , 11358
Sun Apr 1, 2012
Hi Kkeogh, the realtor should continue to show the house until both buyer and seller have signed the contract and the escrow check is deposited by the sellers attorney. At that point they are holding your funds- ethically speaking the hosue should no longer be shown.

I recommend doing the engineer's inpection prior to getting the attorneys involved...if you still want the house after the inspection-then by all means have your attorney contact the sellers attorney to send out the contract of sale. I would sign and bring your down payment check as soon as possible and have your attorney send back the contract for the seller to sign ASAP.

Depending on financing or all cash deal 60-120 days for a closing. Depending how much time you need to get the financing (30-60 days) and of course the sellers situation and yours as well. Terry K 718-614-3167 cell or email TKorahais@elliman.com
0 votes
John Pinard, Agent, Rosedale, NY
Sun Apr 1, 2012
2 weeks to 6 months it's up to the bank.
Stop showing when in contract.
0 votes
Mark Fisher, Mortgage Broker Or Lender, Bronx, NY
Sun Apr 1, 2012
It really depends on the bank your working with and if the seller is ready to move right away. If you are working with a direct lender usually about 30 days from signed contracts. If your working with a big institution like Chase or Bank of America then usually about 60 days or more. They stop showing the house once you and the sell have both signed the contract, when it's fully executed.
Web Reference:  http://www.markfishernyc.com
0 votes
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