How Long Does It Take to Close on a House?
This article will broadly lay out the purchase and underlying mortgage process and timetable associated with it.
When a purchase agreement is fully executed between a buyer and seller it is stipulated in the contract of all conditions and contingencies associated with it. Examples of such items are typically a home inspection contingency and typically a mortgage contingency. It is also clearly noted that the estimated closing will occur on or before a specified date. Typically, it is around 30 days from the acceptance date but this can vary depending on what the buyer and seller agree to. Estimated closing dates could be as far out as 60 days or longer.
In a normal closing period of 30 days typically the home inspection occurs within 3-7 days and the mortgage approval closer to 3 – 4 weeks.
Speak to your mortgage professional at Hall Financial to learn more about this process. They are the experts in helping consumers with their mortgages and their purchase closing approvals occur on average in 13 business days or less.