my fiance and i are getting married next september and we planne don looking in june for a condo or co-op but then i've heard it take up to 5 months to close? is this true?
it really depends...and a lot on the sellers...I've seen people do it in a month...and others that take 5 months
its been a little more than one month since we started our process...and we will probably (hopefully) close around 11/1 - so 2 1/2 months
octobergirl
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Re: how long can it take to close?.............
we first saw our co-op in the beginning of november, and didn't close until the end of march, so yes, 5 months for us!!!
Mandy77
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Re: how long can it take to close?.............
Average time is 60-90 days depending on the situation.
Jenn524
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Re: how long can it take to close?.............
Co-op's take longer because you have to go for board approval and it's a matter of when the board meets and when they can fit you in.
In general house closings are about 2-3 months, co-op's are 4-5 months.
Jenn524
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Re: how long can it take to close?.............
Wanted to add... you shoud look well before June because it may take you a couple of months to find something you like and then you still have the closing time. We started looking for a house in July in order to be out of our apartment by the end of the year. And that's for a house where we don't have to worry about board approval.
JENHOS
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Re: how long can it take to close?.............
We signed a contract in July and aren't closing till Dec 1. Hoping for an earlier date but that is what the seller needed and we knew it going into it that was part of the deal.
Kelly9904
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Re: how long can it take to close?.............
I have been told it can be anywhere from 3 weeks to 3 months on average. THere are many factors to consider. First, it will depend on how fast teh owner wants to move. My friend bought a house where the owner was building a new home which wasnt ready so they did a lease back, the closed but then esentially rented their home to the previous owners. SOme owners on the other hand want to move quickly. Also how fast your mortgage goes through. My brothers mortgage took a while to go through as they did all the credit checks and what not. Plus I have hear of people recently taking alittle longer because alot of banks are a bit behind on paper work. My FI and were planning on beginning our search sometime in Novemeber for our June wedding. We are allowing some extra time due to the holidays and we can only look on weekends because of work schedules during th week!
