How Long Does It Take To Close On A House?

Thirty days, on average, is the answer to the question of how long does it take to close on a house? For condos, that range is higher at 45 days.

However, that statistic is misleading. Thirty days represents the time from when you accept the offer to when you can hand over the keys to the house to the buyer. If you choose to sell through an agent, then there is a significant amount of work that needs completing before you can receive an offer. You will need to clean the property, stage it (potentially), have the agent take photos, list it, and have a bunch of open houses. Eventually, you will receive an offer on your property.

This entire process can take well upwards of two months. An average home sits for 80 days on the market in Rhode Island and 72 days on the market in Massachusetts. As of the time of this writing, Zillow considers both of these markets to be hot, so in weaker markets, sellers can expect their homes to sit even longer.

Assuming it takes ten or so days to find a real estate agent and for them to list your property, that means you’ll have about three months of your home being on the market before you get an offer. Then you have to wait a month after for it to close. If the offer falls through for any reason, you have to start the process all over again! If you take a look at the official Massachusetts website on the home buying process, you will see that there are a lot of steps involved! That’s what your buyers will have to go through to get your property.

There are situations where you might want to get out of your home faster. You might be facing foreclosure, or you might have a fantastic job opportunity somewhere else in the country and need to leave immediately. There are a few ways to sell your home faster, including putting your house for sale by owner or looking for cash house buyers. Let’s take a look at some ways sellers can receive a much shorter answer to the inquiry, “how long does it take to close on a house?”

House For Sale By Owner

To bypass some of the financial and time complexities of real estate agents, some sellers in Massachusetts and Rhode Island resort to putting their homes on the market as “for sale by owner.” Essentially, this means that they don’t have a real estate agent. The marketing, listing, and showing of the property are all conducted by the owner.

While this might sound appealing initially (who wouldn’t love to save 2-3% in real estate commission fees), there are a few problems with this approach. Putting your house for sale by owner usually results in a lower offer than using an agent. Many times agents are well-connected. They know other agents and other clients who will be interested in paying top dollar for your property. They also know precisely how to stage and photograph it to achieve maximum foot traffic.

Even if you do manage to showcase your home optimally, agents also know the real estate system in ways that can help you avoid costly mistakes. Anyone who has had to fill out a purchase contract for real estate in Massachusetts or Rhode Island knows how long and painful the forms are. You can easily miss a critical section that can expose you to potential liabilities down the road. An example of this is failing to disclose lead paint.

Furthermore, there’s no guarantee that you will be able to sell your home faster than an agent. How long does it take to close on a home if you sell it yourself? Maybe it will be faster than with an agent, or perhaps it will be slower. Nobody knows for sure. However, even if you can post your home and receive an offer lightning-fast, you will still typically need to wait the standard 30 days to close and earn your money.

Use Cash Home Buyers

Selling your home for cash is usually the best way to reduce the time it takes to close on the transaction. Cash home buyers work differently than traditional real estate agents. As the name suggests, these types of buyers can purchase your home for cash. They don’t need loans, cumbersome inspections, and other sticky issues that can sink traditional real estate transactions.

The way these types of buyers work is quite simple. Typically, you contact them with the details of your house. The company responds to you and gets a few pieces of information. Some buyers will make a tentative verbal offer to you over the phone, while others will wait before disclosing any amounts.

If you’re still interested after the initial discussions, they will come out to your home for a quick inspection. After that, they will write you a fair no-obligation all-cash offer! If you like it, you can accept it. Otherwise, you can reject it and still go the traditional real estate agent route or try selling the home yourself.

Assuming you like the offer and want to get out of your home as fast as possible, then you and the buyer can schedule a closing date. Most cash home buyers can close within the week.

What this means is that you can call one of these investment companies up on Monday, get someone to look at your home within a few days, and have your cash in hand sometime the following week.

By using one of the cash home buyers, you can sell your home in days instead of months. Instead of looking at 3-4 months at a bare minimum, a cash buyer can purchase your home within 7-10 days from the moment you contact them!

How Long Does It Take To Close On A House: It Depends On Your Selling Method

Exactly how long it takes for a buyer to close on your home depends on how you sell it. If you sell it yourself or sell it via an agent, the actual closing part takes 30 days or more. Listing and putting it on the market expands the total time to sell the house up to 3-4 months at a minimum.

If you use a cash buyer, the time to close can be in one week or less! Your total time to sell can be less than a week or two.

The fastest way to sell a home is with one of the cash home buyers out there. If you are interested in receiving a fair offer for your home, contact us today!

We Buy Houses Cash In Rhode Island & Massachusetts

We'll buy your house in (as-is) condition. Call (508) 217-9050. Want to sell your house/property fast without the hassles? Start by giving us a bit of information about your property.
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