How Long Does the Process Take?
So much can happen in this process. If you are paying all cash for a home, it can be a short escrow period of about 10 business days. However, it can take a while to find the home and have your offer accepted. If you are getting financing which most people area, the escrow process takes usually between 30-60 days, even longer if you are buying a foreclosure or short-sale home. Be prepared for the entire process to take from 60 days to 4 months, with exceptional circumstances extending outside of that range.
How competitive is the Buyer’s Market currently?
The Market is picking up again, meaning more homes are selling, and more quickly. The lower price ranges are always more competitive and attractive homes are selling very quickly; sometimes with multiple offers.
Your agent will help you to put together a competitive and attractive offer to potential sellers in order to get your offer accepted. However, you may need to write more than one or two offers before you actually get an accepted offer.
Often times, this is where your agents level of experience and professional network can make the difference between your offer being considered, or rejected.
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