Home Buying in Mansfield>Question Details

Jessica, Both Buyer and Seller in Mansfield, PA

how long does it usually take for a closing?

Asked by Jessica, Mansfield, PA Tue Jun 3, 2008

WE are looking at properties to buy now, we have our current home for sale, and interested party would like to be able to move in within the next month. We haven't yet found the right place for us, but we if we find it within the next week or so, would is be possbile to have the closing before July 1st?

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Cash can take about 3 days, when you start dealing with mortgages it takes 2 or 3 weeks to set things up with your lender.
0 votes Thank Flag Link Tue Mar 5, 2013
Cash can close rather quickly. It usually takes the title company about 3 days to do a title search in my area, so within a week is not unreasonable. If there is a Conventional mortgage, you are looking at a 2 week minimum, and same for FHA, however, 3 weeks is advisable in case there are any hiccups along the way, which there usually is something that pops up unexpectedly.

July 1st is doable, for sure - we just wrote one yesterday for June 20th, less than 3 weeks away and it is FHA.

Good luck!
Web Reference: http://www.swohiorealty.com
0 votes Thank Flag Link Tue Jun 3, 2008
3 weeks is about the fastest I've had. If you are a cash buyer then definitely quicker. Actually the lenders are being a little more cautious now and I just recently had a sale where there was a 2 week delay due to the house being in an area of decreasing value. They had to restructure the loan from what they were originally going to go with. Closing before July 1st would really be pushing it, but it could be done.
Web Reference: http://www.TaraBranz.com
0 votes Thank Flag Link Tue Jun 3, 2008
Your chances are best as long as you have ALL of your documentation into your preferred lender right NOW!

If your finances are a slam-dunk, then that improves your ability to close quickly!

Good luck!

Art Hotes ~ RE/MAX
Web Reference: http://www.ArtHotes.com
0 votes Thank Flag Link Tue Jun 3, 2008
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