What is a Realistic Timeframe to Complete a Transaction?

What is a Realistic Timeframe to Complete a Transaction?

Generally you will have 30 to 45 days from mutual acceptance to close the transaction.

Often the proposed closing date on the original offer is unrealistic due to the elongated negotiation and acceptance process with the seller. The seller’s Asset Manager knows that you can’t close in a week and a half (unless your offer is cash). Asset managers know that appraisals, inspections and the loan process take time.

They will assume that you have taken the time prior to making an offer to become pre-approved for the loan and that there will be no trivial delays beyond the 30 to 45 day closing period.

Read the Seller Addendum carefully – there is often a per diem late fee assessed for tardy closings. The corporate seller will not suffer delays due to the purchaser’s lender not performing in a timely manner. Begin your inspections upon being alerted that your offer is accepted.

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WILMOTH Group is headquartered in Indianapolis, Indiana. We focus on providing creative local solutions for a variety of residential real estate needs including, properties for sale, property management services in Central Indiana.