Are you planning on buying an Austin Texas home for sale and are wondering how long the average home closing takes?

If you’re paying cash for a house, it will take about 24 hours but if you’re buying a home with conventional financing you can expect your closing to take anywhere from 35 to 50 days.

What Can Delay Home Closings?

As with anything in life home closings can be delayed for a variety of reasons including:

  • Low appraisal.
  • Additional debt is found on the buyer’s report.
  • Mistakes are found on the buyer’s credit report that have to be corrected.
  • Liens or possible judgements that are filed against the seller.
  • Problems with the title.
  • The buyer or seller gets divorced before their home is bought or sold.
  • Required updated bank statements or financial documents.
  • The loan program the buyer was planning on using expired.
  • Changes to the fees or loan estimate.

If you’re a buyer, one of the biggest things you can do to help yourself during the home buying process is to get all of your financing in order BEFORE you start searching for a home that way you can avoid any last-minute glitches that will delay your closing.

What Does the Home Closing Process Involve?

Before any escrow can close, however, all the terms of the purchase contract must be met; then the seller deposits the deed and the buyer deposits the funds. Here are sample types of conditions required in California. Your state closing process may vary.

Search for Homes in Austin

Planning on searching for a home in Austin TX? Contact the Kent Redding Group today by calling us at (512) 306-1001 or click here to connect with us online.

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