To be clear, it only takes 1 to 1.5 hours to sign all of the paperwork to close on a home, and sellers can often skip the closing table by signing their documents ahead of time. You may even want to think about hiring a real estate attorney to help you work out title issues. “I’m usually in touch with the buyer’s lender so I’ll have a good idea when we’re moving forward.”.
As you know by now, lots can happen in between those two big milestones. You’ll get a firm idea of your closing timeline once you and the buyer sign the purchase and sale agreement. You could also order a pre-inspection before you list your home on the market. A real estate professional can help you answer all of these questions and more. The buyer will be waiting for their lender to underwrite their loan, etc.
The absolute best way to ensure that this all goes smoothly and is stress-free for you is to work with a knowledgeable agent. Any issues that the inspection finds are grounds for negotiation with you, the seller. Yet any hiccup or even a slow response could throw you off your projected close date. Before you can close your home sale, you have to clear the title of any judgments, liens, or bankruptcies. I doubt they had to wait longer than 10 minutes!
This compulsion happens for a good reason. Find top real estate agents in all major US cities. A home inspection is not required for every real estate transaction, but real estate professionals strongly recommend that buyers request one before purchasing a property. Time to celebrate, right? This process can take a few days depending on the availability of an inspector. In your contract, you will outline how much time you will give the buyer to obtain the funds. You can save on commission without sacrificing quality or service with a Clever Partner Agent.
This could save time during closing, but you have to disclose everything in the pre-inspection report to buyers and pay for the pre-inspection with your own money.
Here are 3 tips to remember to keep your home sale on track. You’ll get a firm idea of your closing timeline once you and the buyer sign the purchase and sale agreement. With the inspection and appraisal out of the way, there are few things left to make a buyer balk and walk away. If the buyer requests repairs, you’ll have to hire someone to fix the issues as soon as possible to keep the closing process on track. These major issues could severely affect the outcome of your home sale: If a home inspector finds a major issue in your home, the buyer will either back out of the sale, request that you fix it before closing, or renegotiate a lower offer. A pre-inspection reveals the same issues as a buyer’s inspection and gives you time to repair issues before you receive any offers.
With minor issues, such as a broken window pane or a loose roof shingle, the buyer will typically request that you repair it or request a credit to fix the issue once they own the house. Most buyers will need to secure financing and that takes time. Accepting an offer on your house Once you have successfully found a Buyer who is interested in purchasing your home, you will receive an Offer to Purchase.
So hypothetically, if you list your home on August 1 and accept an offer on August 24, you can expect to close your home sale somewhere between the end of September to mid October. Get free, objective, performance-based recommendations for top real estate agents in your area.
Those negotiations could add a few hours to the closing process—or a few weeks.