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what is the avg amount of time it takes to get a closing date?

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September 23 2009 - Baltimore
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Answers (3)

Deneen,

Establishing the specific closing date is actually determined in the contract when both parties agree. Once you have a ratified contract, then you need to find a settlement company that can process your transaction on the date you agreed to with the other party in the transaction.

In Maryland, we are currently seeing the typical closing happening within 30 to 45 days from contract ratification. As indicated by other responses below, there are many issues that can cause a delay past that time frame, and the biggest are usually issues with financing and resolution to inspection issues.

If you would like to talk more, let me know as I am licensed in Maryland and can assist you directly.

Alex
www.AlexSaenger.com
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November 09 2009
With respect to Judy...

Financing is now averaging 45 to 60 days nationwide

Again, that is an "Average", but if you put a closing date less than 45 days, the odds are good that you will be signing an Extension.

---------------
Best wishes,
  Fred Griffin
----------------
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September 23 2009
If the deal is financed with a local lender (not online lender)
and everything happens as agreed, it should be able to close
within 30 days.

There are many things that can change the above situation however, which could delay closing. Some of the things that can delay closing would be

*problems with financing
*title issues
*survey issues
*home inspection issues

If the deal is "clean and easy" (cash for example) closing could
take place quicker than 30 days.

30 days would be a typical average.

Judy Bibbings
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September 23 2009
 
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