Profile picture for jameskim80

how long does it takes to do closing fee document?

its a short sale house.
and trying to purchase with cash ( no loan )
i want to know how long will it take to do closing fee after the bank approved me?

for example ...
like i can pay closing fee after 2 weeks from bank approved me?
or 4wks? 6 wks? 8 wks?

i heard if you get a loan then it will take longer than cash. is that true? if so, whats the average time to wait after bank approved me?

i want to tell you guys my currently situation.
I signed form 34 only on 1/3/14. it it says i closing shall be on or before 2/20/14
but my agent talks different now. he said seller and bank needs to do some paper works before the bank approve me officially and he also told me it can take more than closing dates. why..?  what kind of paper works do they have to do?
when i ask my agent about this he just told me the seller need to do contract again like showing his bank account and monthly checks from work something like that.

please tell me if you know..
  • January 11 - South End
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Answers (1)

Profile picture for 1AllisonSmith
Closing on or before the 20th means closing will be on the 20th unless both buyer AND seller agree it will be earlier. It doesn't really matter what is going on with the short sale and the lien holder, unless the seller ALSO agrees to close before the 20th. A seller has no motivation to close early if they are still living there because it only costs them money. And yes, there is a lot of paperwork that needs to be done, especially with a short sale and it takes time. A short sale is not considered approved until you get the form 90ss back from the seller. This is general information. You should be asking your broker these questions and if you are not getting the answers you need, you should be talking to the designated broker that manages their office.
  • January 11
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