Fast close?

[Anonymous]

When we last purchased, we were able to close in like 11 days, kept the inspection contingency and waived all others.
Is it possible to close faster than that?
What is the fastest close possible if financing is needed?

[Anonymous]

11 days with a mortgage? Lots of sellers can’t vacate that quickly.

[Anonymous]

Cash offer, house already empty

[Anonymous]

It depends how fast the title company can work. They typically won't start doing the work until the inspection contingency is cleared.

[Anonymous]

I closed in 17 days last year, but it was touch-and-go.

[Anonymous]

We closed in 11 days too, with financing. We waived everything, and the previous owners had already moved.

[Anonymous]

On cash deal last month: 8 days from signed contract being turned into title company to deed recorded.

Waived everything. I don't see why the financing would necessarily slow that down if you have a mortgage broker who is playing on your team.

[Anonymous]

We closed in 22 days last year and it was TIGHT. No contingencies.

[Anonymous]

Anonymous wrote:On cash deal last month: 8 days from signed contract being turned into title company to deed recorded.

Waived everything. I don't see why the financing would necessarily slow that down if you have a mortgage broker who is playing on your team.

Dodd Frank rules prevent that, plus underwriting can take a while and there's a lead time for that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:On cash deal last month: 8 days from signed contract being turned into title company to deed recorded.

Waived everything. I don't see why the financing would necessarily slow that down if you have a mortgage broker who is playing on your team.

Dodd Frank rules prevent that, plus underwriting can take a while and there's a lead time for that.

As the Poster noted it was a cash deal. Dodd Frank only has requirements for homes that are being financed with a mortgage or a first and, possibly, second trust. Most local lenders can get all underwriting requirements done quickly and comply with Dodd Frank.

[Anonymous]

Also depends if person selling actually owns home and has clean title. That two can slow it down.

My first house the seller had a mortgage with three missed payments, back child support liens and back taxes liens on property title. He also had open permits.

I was ready to go with no contingencies but his messy title slowed it down a bit

[Anonymous]

We closed in less than 10 days recently - no financing or contingencies - but then we did a rent back.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:On cash deal last month: 8 days from signed contract being turned into title company to deed recorded.

Waived everything. I don't see why the financing would necessarily slow that down if you have a mortgage broker who is playing on your team.

Dodd Frank rules prevent that, plus underwriting can take a while and there's a lead time for that.

As the Poster noted it was a cash deal. Dodd Frank only has requirements for homes that are being financed with a mortgage or a first and, possibly, second trust. Most local lenders can get all underwriting requirements done quickly and comply with Dodd Frank.

Read again. The PP said "I don't see why the financing would necessarily slow that down [from 8 days] if you have a mortgage broker who is playing on your team."

[Anonymous]

We closed in 21 days back in 2021 with financing, no contingencies. It really depends on your lender.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:On cash deal last month: 8 days from signed contract being turned into title company to deed recorded.

Waived everything. I don't see why the financing would necessarily slow that down if you have a mortgage broker who is playing on your team.

Dodd Frank rules prevent that, plus underwriting can take a while and there's a lead time for that.

As the Poster noted it was a cash deal. Dodd Frank only has requirements for homes that are being financed with a mortgage or a first and, possibly, second trust. Most local lenders can get all underwriting requirements done quickly and comply with Dodd Frank.

Read again. The PP said "I don't see why the financing would necessarily slow that down [from 8 days] if you have a mortgage broker who is playing on your team."

But I was referring to the PP's first sentence that read: "On cash deal last month: 8 days from signed contract being turned into tile company to deed recorded." That is why I responded that Dodd Frank does not apply to cash deals.