Many people eagerly ask, “How long does it take to close on a house?” when their home is listed for sale. However, home buyers also want to know the timeframe of the selling process for properties they are interested in. If you want to get through the process of selling your home or buying a home quickly, there are things you can do to finish in record time.
Cross the finish line of closing on a house for sale by using the tips below to speed up the process. Just be careful to be patient if the process drags on longer than you initially thought. It is normal for unexpected problems to occur, but never forget the importance of enjoying the ride. It may be a winding journey but when you finish the escrow closing, you will see it is worth it to handle the entire process with great care – no matter how long it takes.
How Much Time Does it Take to Close on a House?
On average, it can take up to 50 days to complete the home buying process. For buyers who need to establish a mortgage first, the process may also include a loan and property appraisal. Some people set out with a goal in mind in order to complete the process of home selling without wasting any precious time.
It is important to know that the time it takes to close on a house will vary for every property. You may decide to set a goal with your realtor like “sell the house in 30 days.” However, be advised that flexibility is invaluable regardless of what you have in mind when the process begins.
Once the closing portion of the home selling process is initiated, it can take as little as one week to finalize the deal. Home buyers who do not require a loan and have cash in hand may be able to move in as soon as the home inspection and other contingencies are satisfied.
Tips to Speed Up a Closing on Your House
If the closing process on your home seems to take an eternity, don’t worry. There are things you can do to speed up the closing process. Use these 3 tips to ensure you close the deal on time.
Resolve the Title
If you have any issues with the title, including a lien, get the issue resolved before selling the home. Before you provide the seller a copy of the title, allow time to make copies of the document before the process of home selling begins. If you have any issues during the process it will take more time to close. You can resolve title issues before you start, thus speeding through the home selling process.
Home repairs should not be part of the home buyers to-do list. In fact, when you list the property for sale, your home should already be able to pass a home inspection with flying colors. Usually, home sellers make the repairs or allow buyers a tax credit in order to make the repairs and also upgrade outdated styles and fixtures at the same time.
Talk it Out
When you have questions or concerns about the closing process – just ask! It is important to stay in communication with your realtor, broker, and an attorney, along with the team at the offices of Jeff Barchi. That way, any significant changes or requirements can be met quickly. Without fully understanding the people you are working with, the home selling process can become confusing. Aim to communicate well with all members of your network for the best possible outcome.
A Note on Speeding the Homebuying Process
Other factors that can slow closing include a lack of financing, waiting for approval, appraisal disparities, lack of insurance, and other contingencies. But, you don’t have to let any of that stop you from closing quickly. Keep an eye out for these red flags of a slow sale process and, call the offices of Jeff Barchi to talk to real estate professionals who can help.