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How long does it take to buy a home?

Viewed: 119 | No. of Answers: (2)

Md Asif
Submitted On : Feb 06, 2023
Answer - 1

From start searching online to finish buying a home takes about 10 to 12 weeks. Once a home is selected an the offer is accepted, the average time to complete the escrow period on a home is 30 to 45 days (under normal market conditions). Though, well-prepared home buyers who pay cash have been known to purchase properties faster than that.

Sanjeev Sinha
Submitted On : Feb 06, 2023
Answer - 2

Market conditions are a major factor in how fast homes are sold. In hot markets with a lot of sales activity, buying a home may take a little longer than normal. That’s because several parties involved in the transaction get behind when business suddenly picks up. For example, a spike in home sales increases the demand for property appraisals and home inspections, yet there will be no increase in the number of appraisers and inspectors available to do the work. Lender turn-around times for loan underwriting can also slow down. If each party involved in a deal takes a day or two longer to get their work done, the entire process gets extended.

Naveen Singh
Submitted On : Feb 06, 2023

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