On average, it takes about 50 days to close on a house from the time you make the offer to the time you take possession of it. If you do not want to wait almost two months to move into the house you are buying, there might be some things you can do to speed up the closing on your new home. Here are four steps you could take that may help you close faster when buying a house.
Make sure you are pre-approved for a loan
If you want to complete this process as fast as you possibly can, make sure you get pre-approved for a loan before you even set foot in a house that is for sale. The pre-approval process takes time, but it is a necessary step in buying a house. If you get pre-approved before you shop for a house, it is likely to make the closing process move a lot faster and smoother.
Avoid adding a lot of contingencies to the purchase offer
Secondly, you will be able to close faster on a home if you avoid adding a lot of contingencies to your purchase offer. Each contingency you add may cost you some time. For example, if you add a contingency that requires the seller to remodel a bathroom in the house, it will take some time for this project to be completed. If you can avoid adding a lot of contingencies, you will likely close faster on the loan.
Complete your tasks quickly
Another way to speed up the process of closing on the house you are buying is to make sure you complete all your tasks quickly. For example, if you are told that you must hire an appraiser and home inspector yourself for the house, call and hire these professionals right away. The sooner you call them, the sooner they will be able to visit the house to do their jobs.
Keep in touch with your lender
Finally, you might be able to speed up the process simply by staying in touch with your lender. You may want to call your lender once or twice a week to see how the loan process is going, and you may want to call more often than this as you get closer to your closing date.
If you want to close quickly on a home, you might be able to if you follow these tips. To learn more about buying a house, you should talk to a local real estate company like brough realty today.Share