We haven't even looked at houses yet but will in a few days.
I have 2 months of temp housing. Then we either find a rental or wait to close on the house if we find something we want to buy.
I'm guessing it will be pretty hard to close within 2 months.
I'm going to also look at rental homes as a backup.
One of the good things is that most of the homes we are looking at are empty.
nectarine / 2317 posts
our close was 60 days. my friends are about to close on their new place and it's 30 days from purchase. 30-90 is common depending on time of year/where people are moving to. If the houses are vacant I'd expect a quick close.
wonderful cherry / 21504 posts
45 days. The sellers had already moved out but still had some stuff to remove, plus repairs to things found on the inspection. But the biggest holdup was our mortgage lender just taking a while. I think 2 months to find a place and move in would be really tight.
wonderful pear / 26210 posts
90 days...and I thought that was going to be way too long, but our mortgage took FOREVER to process. It wasn't even complicated or anything.
grapefruit / 4988 posts
I think ours was 30 days (it felt like longer though because it took 2 weeks for the offer to be accepted). We had already been looking for months though (and had 4 offers declined). In our market (hot, tons of competition for houses), 2 months would never work. But if your market is slower and houses are empty, it's definitely conceivable. You'll probably want a back-up plan though (maybe a month-to-month rental).
pomelo / 5129 posts
Ours was within a couple weeks, but we were lucky.
Our buyer wanted in to our house ASAP. So we basically had a month to find something to move into.
The house we bought had been vacant and staged. They were eager to sell (it was an estate property) and they didn't have to "move" anything (just the staged furniture). It was hectic and sort of a nightmare at the time, but in the end, it all worked out perfectly. We moved in the day after we closed, and we closed two days after we sold our old house. DH and I spent two nights in hotels and one at my mom's house.
ETA: Maybe it was within 28-30 days? The sellers might have given us 45 ad we had to find something within two weeks? I just remember being in an insane rush and looking at houses constantly!
nectarine / 2180 posts
We did a 45-day close, but the seller ended up asking us to delay by a couple weeks because their new home wasn't ready. We were able to give them another week before we needed to move. I got the impression from calling around to a few mortgage companies that it would be difficult to do anything less than 30 days.
ETA: We had a VA loan, which may have had something to do with making it difficult to close in under 30 days.
honeydew / 7303 posts
60 days for both buying and selling, but it is what we requested. It could've been shorter or longer
coconut / 8430 posts
It seems like everyone here wants a 30 day close (or less, if they are offering cash).
pomegranate / 3809 posts
From initial offer to closing was a quick 26 days for us. We made an offer, it was accepted one week later, and 19 days after the offer was accepted, we closed.
eggplant / 11824 posts
Ours was less than 30 days, but we did not have to sell our current home in order to buy and the house was a vacant new build with all work complete - - so absolutely nothing to hold up the sale (pending inspection, etc. of course)
grapefruit / 4321 posts
The biggest factor will actually be your mortgage company, so ask them what they are averaging right now.
honeydew / 7968 posts
it took us almost a month, but only cuz we wanted them to get proof of permits or what not, and that took awhile. unless they are in a hurry to close, usually takes awhile because they usually need to find alternate housing, or you need them to fix things after inspection and that takes awhile, etc.
pear / 1648 posts
We've bought and sold a few houses in the past few years. Each of them had 30 days written into the contract. Our home we bought in 2013 we closed 30 days later and our home we just bought last month we closed 28 days later. The home we sold in June of this year, the buyers had to request extensions for financing and we ended up closing closer to 40 days, I think.
If the sellers are motivated and ready to go, it really just depends on how quickly you can get your financial documents in order/submitted in order for the loan to go through. We were extremely prepared this time around, having been through the buying process and a refinance recently, and it still was close regarding whether we would close on time - the bank's appraisers were just so busy that we were told other loans have been delayed due to appraisal.
Good luck with the house hunt!
hostess / papaya / 10540 posts
Ours was a short sale, so it took longer than usual. But, in other property sales I've been a part of the usual was 30 days.
pomelo / 5220 posts
We sold our place and originally had a 60 day close but had to pay them to do a 90 day close. Eventually, we ended up at a friends house and then a borrowed apartment due to builder delays on our buy side of things. It was a nightmare! In hindsight, I wish we had listed out house last minute. The market was in our favor and we could have stayed put until our house was finally done.
nectarine / 2951 posts
3 months. I even called the mortgage company and lawyers daily. I think NY just takes longer.
pear / 1717 posts
@bluestriped bee: Our process was actually fairly quick in comparison to the other people I have spoken to. So the house we purchased went up on a Tuesday. That Saturday after it went up we went to go see it. On Monday we put in an offer and Tuesday they accepted the offer. So that was super quick. This was from May 3rd to the 11th. So this is when the "waiting game" began. We were suppose to close June 30th. We did not do inspection and appraisal until early June. We then found out the seller wanted to move closing up to June 22nd. Everything went off without a hitch. They gave us all the changes to the house we asked for and covered closing costs. We were blessed. In all from the day the house went on the market to the day it became ours was 50 days total.
persimmon / 1023 posts
I think it was a little over 4 weeks to close on our sold house and our new house. It was insane! Our house sold on a Thursday with a short closing of the 4 weeks ish. We looked again at this vacant house we had seen but weren't sure of on the Saturday, put an offer in, negotiated over the week and accepted. If it wasn't vacant we would have needed temporary housing. Thankfully we had tonnes in storage and just had to move and pack essentials because it was a really tight timeline!
pomegranate / 3113 posts
About 3.5 weeks (offer accepted 4/30, closed 5/24). That's pretty quick in the world of real estate but it still felt like forever! It was an estate property and we were first-time buyers, so there was nothing preventing us from moving as fast as possible except the inspection and mortgage processes, and luckily those went very smoothly.
pineapple / 12053 posts
ours was 38 days from offer accepted, but it took 4-5 days from our initial offer to a accepted offer. and what @Truth Bombs: said is accurate. in CA, they've changed some mortgage stuff, so a lot of it takes 45 days at the least. we were able to move faster because we had JUST been preapproved with our lender so they had all our paperwork including our most recent tax return which had just been filed.
pomelo / 5509 posts
@bluestriped bee: Are you pre-approved? I think that can make a difference in turn-around time, too.
From having our offer accepted to closing was 49 days, I think. Our closing was pushed back a week due to the seller dragging her feet on some paperwork. I think it'd be really hard to find a house you love, make an offer, have it approved, and close within two months...pretty much every single step, including finding the ideal house, would have to go perfectly.
ETA: The house we bought was empty and it didn't seem to make things go any faster!
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