Closing on a house takes time. And, it depends on your "starting point." If you are yet to find a home, that process alone could take 30-60 days or more, depending on competition in your area.
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There are many variables that can determine how long it takes to close on an FHA loan. Underwriting is one of the biggest variables. Once you’ve found a home and signed a contract with the seller, the rest of the lending process might take two or three weeks on the short end, or two to three months on the long end.
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Typical closing times can vary, but it is hard to get a closing done inside of 30 days, unless it is a cash sale. When there is a loan involved, 30 days is a minimum – but even that can be challenging as the spring market heats up and the volume in the system increases sharply.
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What Can Slow Down Closing on A House? While there are no state or federal regulations that govern home closing times, they can close as early as a week or as long as 35-60 days once you find the right home.
Will you need a mortgage loan to buy a home in Washington State? This can affect how long it takes you to close. Cash buyers tend to have.
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How to Close on a House. After agreeing to buy a home, you need to "close" on the sale. The process is quite complicated. You will need to order a home inspection and possibly apply for a mortgage. As your closing date approaches, you must.
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Still, you’re eliminating the due diligence process from a lender, which is generally what pushes closing time to 30 days. If you’re buying from a seller who is purchasing another house, you may find you’re waiting 30 days to meet the seller’s timeline anyway.
how long does it take to close on a house once you get the inspection? Find answers to this and many other questions on Trulia Voices, a community for you to find and share local information. Get answers, and share your insights and experience.