Whether you’re buying or selling, the time it takes to close escrow can be a major headache. Keep reading to find out the average time it will take you to close on a home!
Thank you for checking in! My name is Chris Tertzagian and I serve the amazing people of Charleston. Today, we’re talking all about how long it takes to close on a home.
Whenever I am swirling around and feeling overwhelmed, my Dad says to me, “Chris, how many bites does it take to eat an elephant?” That is a whole lotta bites! (I would never eat an elephant. It goes against my moral code 🙂 His statement puts things into perspective. One bite at a time!
You found your dream home and you’re ready to move in ASAP.
Not so fast! These things take time. Here’s why!
The actual time it takes to close escrow on a house could be between 4-6
weeks. This is because it now takes between 30-45 days to fund a loan. And
while you’re waiting for the loan money, you’re also waiting for the title
company, appraiser, inspector, and termite as well. Here’s some ways you can
speed up the timeline.
Step #1 – Know exactly what you want in a house
Do your homework before you even start looking. That way, we can
save time and only look at the homes that fit your exact criteria. Determine your likes, dislikes, non-negotiables, location, size and amenities.
Step #2 – Find a great real estate agent and loan officer
Finding good people to help you from the start, will make the entire
process much smoother. Which will also help to make things happen
as quickly as possible. Work with people you know, like and trust. Look for agents with experience. They can look into the unforeseen.
Step #3 – Work with your loan officer to figure out exactly how much you can afford
This is a big one. One of the most common reasons for delays is when
buyers don’t qualify for financing. Making an offer for a property
without getting financial pre-qualification can be a major mistake. It’s
surprising how many buyers don’t acquire a written loan commitment
from a bank or a mortgage lender before submitting an offer — But it
happens all the time.
What happens if you do not have a good agent?
By taking these three steps, you’re already ahead of the game. And that’s
where I can help. By using a good real estate agent, we can make the process
as painless as we possibly can.
A couple of things I like to do for my clients:
- When shopping for a loan, I always suggest to my clients to start with your mortgage payment rather than the sales price. You want to own the house and do not want the house to own you. Be comfortable with your mortgage payment first.
- I take the mystery out of Buying and Selling. I do Buyer 101 and Seller 101 Crash Course. The session takes about 30 minutes to review all of the paperwork that determines your course of events. Educating you so you feel confident with your decisions is very important. It saves you time and money when you are aware of all of the details.
- By being in the know, you will negotiate from a position of strength. Making your real estate experience as smooth as possible and putting the most money in your pocket is my main focus. I provide a path that takes you to your highest and greatest good.
What is next?
At this point, you may be convinced that you may need some guidance when
buying a home. But you may also be thinking that you have no idea where to
If you’re thinking about making a move, I can help you through the process.
Just send me a message or text me at 843.270.9399. No pressure, no sales tactics,
just the help and guidance that you need! Happy to serve!
Thank you for reading! Enjoy your day!