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I just wanted to take the time to answer some questions about what occurs during the closing of a property. Lots of clients have been asking me about this lately, and I wanted to take the time to address these issues.
How long does it take to close a property?
A very quick closing in the St. Cloud market would be in about 4 weeks. A more average length of time to close a home in our area is anywhere from 45-60 days. At this time of year with a more sluggish market, it isn't uncommon to have a closing date anywhere from 90 to maybe 120 days out. However, homes are selling pretty well right now in St. Cloud, so I would be inclined to say that it would take about 45 days to close a home.
A very quick closing in the St. Cloud market would be in about 4 weeks. A more average length of time to close a home in our area is anywhere from 45-60 days. At this time of year with a more sluggish market, it isn't uncommon to have a closing date anywhere from 90 to maybe 120 days out. However, homes are selling pretty well right now in St. Cloud, so I would be inclined to say that it would take about 45 days to close a home.
Another question that keeps popping up is: Who sets the closing date?
The closing date is actually negotiable between the buyer and the seller, but ultimately you have to check in with the buyer's lender to see when the closing date will actually occur. Usually it will be within 45 days, but you should probably know this beforehand.
The closing date is actually negotiable between the buyer and the seller, but ultimately you have to check in with the buyer's lender to see when the closing date will actually occur. Usually it will be within 45 days, but you should probably know this beforehand.
When does everybody move?
Typically, the seller will be moving out of the home and leaving it vacant on the day of the closing. Of course, this can be negotiated, but most often this is what occurs. Buyers rarely move in before the closing date, but it sometimes happens. If you're moving out of an apartment and into a home, we will typically schedule the closing day for sometime during the middle of the month where you can then have a full two weeks to move into your house and out of your apartment. The negotiation in the sale of the home usually works to make the move in and out of the home as stress-free as possible for both parties involved.
Typically, the seller will be moving out of the home and leaving it vacant on the day of the closing. Of course, this can be negotiated, but most often this is what occurs. Buyers rarely move in before the closing date, but it sometimes happens. If you're moving out of an apartment and into a home, we will typically schedule the closing day for sometime during the middle of the month where you can then have a full two weeks to move into your house and out of your apartment. The negotiation in the sale of the home usually works to make the move in and out of the home as stress-free as possible for both parties involved.
I hope these questions and answers have been helpful to you, and if you need any further assistance with St. Cloud real estate, please do not hesitate to call me at (320) 240-3363 or email me at Hauck@saintcloudrealestate.com
