Your goal is to have a quick close on your house. So once you sign the contract to sell your house how long does it take?
Lets start at the beginning for this so you know the process and the steps involved with a quick close. Upon signing the agreement of sale We Just Buy Houses immediately sends the contract to our title company in Huntingdon Valley and they begin their title search. The title search is basically a detailed history on your property. The title company needs to determine exactly how much is owed on your property. This is vitally important because no one will buy a property in Bucks, Montgomery, Philadelphia, or anywhere really when there’s a possibility you owe way more than the actual value of the house. Or even worse, there is an unpaid debt from before you took ownership. This all needs to be figured out before settlement can occur. The title company needs to figure out the amount of all the debts (mortgage, taxes, municipal bills) linked to the property and the owners. This process can vary in time between 7-30 days. Every township has their own set of rules that the title company must follow. So if your house is located Bensalem then title must get the utility payoff amounts that Bensalem requires. If a property is encumbered with different debts, finding out the “payoff” amounts can slow things down. That’s why it is always helpful to know what you owe on your property during the sale process. Once the title company has all the debt amounts figured out they will give the go ahead to proceed with closing.
Normally, if someone wants to sell fast and the property is free of liens and complex debts, We Just Buy Houses can close in a week. One other item to make sure about is how the company purchasing your house is financing the deal. Is the buyer using cash or will they be obtaining bank financing. Cash is king as they say, and in this case it’s very important. If a buyer is obtaining bank financing the time period from signing the agreement of sale until closing takes even longer. In this situation, you are looking at a minimum of a 30 day close. Bank loans do not allow you to close quickly. As a seller, if your goal is to close quickly try to have your affairs in order. Gather your loan statements, sewer bills, water bills, and have 2 forms of identification. If your license is expired, then get it renewed. If the situation with your house is time sensitive, you’ll want to do everything in your power to sell quickly. If you need help with any of those items We Just Buy Houses is experienced and knowledgeable in every area of real estate transactions. Reach out today at 215-709-9431