From the time you have an offer accepted to your closing date can vary, but on average is 30-60 days depending on the complexity of your loan or if the transaction involves a home-sale contingency from the buyer or seller. If you’re looking for a quicker close, we can almost always close faster (sometimes as little as 7-10 days!)
Of course, your search can take as long or as little as you’re willing to #househunt, but that 30-60 day window is critical if you’re trying to time a move (e.g. lease end date, starting a new job, before baby arrives… )
So what happens after your contract is accepted?
When working together, I provide my buyers and sellers an online dashboard of what to expect across the next steps, including the three major transaction contingencies and key dates along the way.
- Inspection: professional review of the condition of the home’s major systems, visible features and overall performance
- Attorney review: negotiating home inspection issues and contract modifications, reviewing title and HOA documentation, agreeing tax proration
- Mortgage contingency: Processing and finalizing your loan through underwriting, appraisal report, and securing your loan
Additional key dates:
- Initial and Remaining Earnest Money deadlines
- Homeowners Insurance deadline, as required by your lender
- Helpful reminders like calling utility companies, hiring movers, changing your mailing address, considering home warranty options
- Initial and final closing disclosures from lender and title company
- Final walk-through & Closing Day
In this online dashboard, all these dates are easily added to your online calendar. I also include my recommended team of lenders, inspectors, attorneys, movers, insurance agents and contractors – plus, I provide easy links to get in touch with ComEd, Peoples Gas, cable/internet providers and USPS. –– All this designed to make the process clearer, accessible and easier!