On average how long does it take to finalize a sell? From the first step till the last step.
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Depends on the financing terms of the sale. Cash sale or Land Contract sales with no contingencies or title issues can close in a week or less. New mortgage sales with a ‘clean’ buyer (high credit score, spotless payment history, good size down payment) can close in 30 – 45 days. Problem or ‘high risk’ buyers (poor credit, low down payment, sketchy credit history) can take 45 – 90 days. Short sales (where the existing lender on the house being bought has to approve the sale & forgive part of the loan balance owing) can take 3 months to a year (& sometimes gets turned down by the bank – them not approving the offer).
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