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I have encountered the same two questions a few times lately, so I thought I would answer them today. Buyers want to know how long it takes to close on a property and whether or not they should pursue a home inspection.
When it comes to closing on a property, it depends on whether you are paying in cash or you need a loan. In general, closing takes about 30 to 45 days. If you’re applying for a loan, it can take longer because you have to hand in paperwork to the lender. Get everything to the lender right away to minimize your closing time.
Last fall, some changes took place to make the lending process smoother. However, the lenders that had trouble meeting deadlines then will still have problems meeting deadlines now. That said, the closing process should normally take 30 to 45 days.
As to whether or not you should get a home inspection, the answer is yes! The home inspector will alert you of any problems with the property and explain how much it will cost to fix those repairs. You’ll know about any issues before you close, so you can negotiate with the seller. The home inspection lets you know exactly what you’re getting into, and it’s well worth the couple hundred dollars that it costs.
I also recommend getting a termite inspection. Again, this could save you money in the long run.
If you have any other questions, just give me a call or send me an email. I would be happy to help you and answer any questions you might have related to real estate!
