We haven't found a house yet, but after reading all these threads in re: closing, I was wondering why it takes so long?
If a contract is signed, let's say Sept 1, how long should what is the average expectancy time for closing?
Niecey
Posted:
Member since
Re: Closing Time
Someone had told me average is 3 months on LI - but I closed in about 4-5 weeks from a signed contract. I signed the end of April and closed end of May. This was with getting a missing CO for a converted garage - the owner was looking to get out quick and get their kids settled in new schools (moving out of state) so that is really who pushed it. We wanted to delay it because we were still in a lease (made owner - split last month's rent to close faster). We had nothing to sell and had no mortgage issues.
swags1016
Posted:
Member since
Re: Closing Time
Honestly it depends. Co's can hold up things, liens on the property, bankrupties on the part of the owner, and how fast the parties want to move. We could have closed in about a month of when we signed our contracts but to be honest, I wasn't ready and we had to hold off for almost another month.
