How long does/can a typical closing take??

pizza1 · ‎08-16-2015

I will be a first time home buyer in 2 yrs, and currently live in an apt. My apts require a 60-day notice of intent to move out. Im just wondering how long a typical closing from start to finish (finding the house, making offer, etcc) without any major snags along the way.

also, how long can a closing take if there are snags like paperwork, verification of certain things etc........

If my lease is up end of February, and Im required 60 days notice, which Id have to give end of December, when should I start the house looking/buying process? When I give notice in December, or a month sooner?

Thanks!! Im really hoping to go with NFCU for my mortgage if anyone has experience with them.

Gmood1 · ‎08-16-2015

If you're prepared and have a home lined up with agreed price. It is possible to close within 30 days depending on the loan type. Some loan types take a few weeks longer than others. Of course the longer it takes to find a home and agree on a price. The longer the process.

Anonymous · ‎08-16-2015

The variable is how long it takes to find the home. Get pre-approved, find a home and get into contract, and from that point it can take anywhere from 15-45 days (unless its net construction).

Anonymous · ‎08-16-2015

@pizza1 wrote:
I will be a first time home buyer in 2 yrs, and currently live in an apt. My apts require a 60-day notice of intent to move out. Im just wondering how long a typical closing from start to finish (finding the house, making offer, etcc) without any major snags along the way.

also, how long can a closing take if there are snags like paperwork, verification of certain things etc........

If my lease is up end of February, and Im required 60 days notice, which Id have to give end of December, when should I start the house looking/buying process? When I give notice in December, or a month sooner?

Thanks!! Im really hoping to go with NFCU for my mortgage if anyone has experience with them.

3rd parties involved in your transaction can cause delays. Or even your Lender may not work as fast as they should. Hopefully you get a good loan processor. The best thing to do is learn the full process and make sure everything is getting cleared. The first thing they should do after you have a contract on a property is order the appraisal and order your 4506T. The buyer being proactive throughout the process is what moves files quickly to closing.