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Elizabeth Weintraub

How Long Does it Take to Close on Your Home?

By October 22, 2007

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Home buyers get so excited after buying a home that they can hardly wait for the home closing.

Some buyers think the seller should hand them the keys and let them move in that weekend, but that's not really how it happens. Buyers have to wait. They have to wait for the appraisal, for the lender to approve their loan and, more importantly, they have to wait for the inspections to be completed, all of which takes time.

Any little hiccup in the process can delay the home closing as well. It's frustrating for some home buyers because no matter how proactive your agent may be or loan officer may be, there are unforeseen circumstances that can crop up, often a few days before a scheduled closing.

So, how you can predict what can go wrong and fix it before it happens? An experienced agent can help you work through the process of home closing and, nine times out of ten, the home will close on time . . . read more about home closing.

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At the time of writing, Elizabeth Weintraub, DRE # 00697006, is a Broker-Associate at Lyon Real Estate in Sacramento, California.

Comments

January 25, 2010 at 2:01 pm
(1) EraseBoard says:

Thought I would drop in for a quick comment. Been lurking around on your blog for a little while now…
Figured I would finally reply on one of your threads to let you know I’m here.

November 15, 2011 at 2:17 pm
(2) Denise V. says:

First off, I have really been upset with our house buying experience. (1) We find a house, it has a asking price, then the bank has it reapprasied, and the price goes up $10,000.
So WHY even have a asking price? (2) We made a offer on this house in Aug. they said we would close by Oct, so I quit my job, well guess what, here it is almost the middle of Nov. and now they say a closing date will be the first of Dec, then I get a call yesterday, and the bank said atleast an additional 30 days no more than 3-4 more months. So here we sit, spending more money in this home, because its winter, and I have no job, so I do not understand the hardship they put on people. We can’t afford to wait much longer!

November 15, 2011 at 3:22 pm
(3) Elizabeth Weintraub says:

Was this a short sale home? I am confused as to how the price changed mid stream if it wasn’t. And why won’t the bank let you close? Is this new construction? An REO (bank-owned)?

I am sorry you are having such difficulty.

August 21, 2012 at 10:31 pm
(4) Dray says:

We are undergoing the same situation. The bankers are just delaying our process of closing . We were assured we get a closure by first week of August. We have not extended our lease and now we are out on the streets with no residence waiting to get the closure.

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