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All-TigerNet [10402]
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OT: How long does it take for the Closing on a house?
Oct 5, 2016, 3:52 PM
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I have built 2 houses the last one in 2004 it didn't take but about 3 weeks to get my construction loan.
We are down sizing a bit going from 3k feet to about 1800.
The loan was sent to the underwriters on July 24th and on the contract the closing date was Aug 30th.
The house we are buying is new and we are putting down over half of the selling price.
I mean it's pretty cut and dry should be an easy process.
This is going on 6 weeks now and nothing.
Has anybody bought a house lately and how long did it take?
I though for sure we would be moving this week.
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Hall of Famer [22393]
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45 days.***
Oct 5, 2016, 3:58 PM
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Hall of Famer [22393]
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45 days.***
Oct 5, 2016, 3:58 PM
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Oculus Spirit [80439]
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When using any type of bank financing, the average wait
Oct 5, 2016, 4:00 PM
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time is 50 days. I'd say it should be any day now. Does your loan officer know what the hold up is?
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All-TigerNet [10402]
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Re: When using any type of bank financing, the average wait
Oct 5, 2016, 4:02 PM
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Last week we had to sign some more papers .
He said the loan was reviewed and the couple of papers we signed was all they asked for.
That stuff was turned in Thursday.
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Oculus Spirit [80439]
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Re: When using any type of bank financing, the average wait
Oct 5, 2016, 4:04 PM
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Since it's new construction, you want have to worry about some things like repairs or title issues. I'd say you are in the home stretch.
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All-TigerNet [10402]
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Re: When using any type of bank financing, the average wait
Oct 5, 2016, 4:07 PM
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I hope so it sucks living out of boxes .
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CU Guru [1123]
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Just sold our house.
Oct 5, 2016, 4:02 PM
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From list date to under contract: 8 days.
Contract to closing: 33 days.
Spartanburg county. 5 year old neighborhood with hoa.
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CU Guru [1123]
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Re: Just sold bank financing with 25% down.***
Oct 5, 2016, 4:03 PM
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All-Conference [414]
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Buying a house since 2008 recession
Oct 5, 2016, 4:03 PM
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Is a headache. Takes a lot longer.
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CU Guru [1927]
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Ding Ding Ding ,,,,,Correct answer!!!!!!***
Oct 5, 2016, 5:32 PM
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110%er [6882]
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Re: OT: How long does it take for the Closing on a house?
Oct 5, 2016, 4:07 PM
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It's gotten really annoying, used to be 30 days were plenty of time. We recently refinanced and it was close to 60 days with tons of extra papers to sign and all kinds of extraneous little fees.
Too much government!
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All-TigerNet [10402]
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Re: OT: How long does it take for the Closing on a house?
Oct 5, 2016, 4:10 PM
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I know it's never took this long for me and this is my 3rd house and I've sold 2
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CU Medallion [52972]
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110%er [6861]
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Took forever here too - pretty robust market right now
Oct 5, 2016, 4:23 PM
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Everyone from the lenders to the underwriters to the contractors are hella busy right now.
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CU Medallion [53829]
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I just had a cash buyer close in one week. I am closing
Oct 5, 2016, 5:45 PM
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another one this month that went under contract yesterday. (I will let you know if we make it)You can still make it in 30 days, but 45 is more like it.
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Letterman [269]
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Re: OT: How long does it take for the Closing on a house?
Oct 5, 2016, 5:51 PM
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Ended up taking me about 60 days.
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CU Medallion [50635]
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did a refi and the papers got messed up at least twice
Oct 5, 2016, 6:54 PM
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they lost docs then said i didn't send them
hard to be my fault when the doc is 1 of 5 in the same pdf
but you are at the mercy of their in competence
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Legend [19610]
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We just closed. I got it through in 4 weeks. But...
Oct 5, 2016, 7:09 PM
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I had to really push the bank, ride them good about getting the inspectors out there and the underwriters to review.
It helped that I told them that my realtor suggested a different bank that could get closing faster and would work to get it done. They tok that as a challenge and hd the loan ready for closing a week in advance...about three weeks total.
So if you are adamant about a closing date, you can get it rushed.
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