You’re preparing to sell your home. As part of your preparations, you’ve researched how to best position your home to sell and what you should expect along the way. Figuring out how long you should expect any part of that process to take can be tricky, especially since there are so many factors outside of your control. That said, you can still get a general idea of how long you can expect any type of buyer to take to close.
Traditional Buyers
Traditional buyers usually take the longest to close on a house. On average, you can expect the process to take about 30-60 days. There’s a lot of paperwork involved in buying a house and plenty of boxes to check. Some of those are boxes that mortgage lenders need to check. Helping people buy houses is an investment for them. They want to make sure they’re making a good investment, which is why they require appraisals, credit checks, and more. All those things take time. With so many people involved, it’s little surprise that things don’t always go smoothly, which can extend how long it takes traditional buyers to close.
Cash Buyers
Most cash buyers close much faster than traditional buyers. Cash buyers already have the money to back up the offer they made you. That means they can skip all the steps required by a mortgage lender, saving a substantial amount of time. Some cash buyers are faster closers than others. That said, you can expect cash buyers to close in about two weeks on average.
Professional Cash Home Buying Companies
Professional cash home buying companies are some of the fastest closers out there. They’re a subset of cash buyers. The main difference between them and other cash buyers is that they’ve developed a highly efficient system that allows them to close in as little as seven days. That can be too fast for some buyers though, so they also tend to be flexible with closing dates so they can work with homeowners to find a day that works for everyone.
Different types of buyers take different amounts of time to close. How long you can afford to wait to finalize the sale of your home should influence who you choose to sell your home to. If you need to sell fast, there’s no better option than a professional cash home buying company like Minnesota Home Guys!
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