Buying A Home
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How long does closing take?
DH and I recently signed a contract on buying a house. We are meeting the home inspector Monday but are not anticipating any issues in the inspection.
DH and I were preapproved for a loan greater than the total price we agreed to on our contract with seller, so getting the smaller loan wont be a problem. Once the inspector gives us the results and we move forward with our contract (sometime next week) how long should closing take? Our realtor set an estimated closing date at Nov 28 but some people have told me it could take up to 3 months 
I am just wondering because I really hoped to be into the house by Christmas and when I was told 3 months it kind of burst my bubble.
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Re: How long does closing take?
My Valentine Bookends (2~13~13, 2~15~09)
Nov 28 is possible.Let them know that is when you WANT to close. It will be the mortgage company that takes their sweet time. When they ask for all your documents, do yourself a favor and send it in with a description of what each and every deposit is. That will save you some time. Be ahead of the game and look at every document you turn in and make sure your names show on each one, make sure if anything looks like they might have a question about it, answer it for them on paper before you turn it in. Also, in your accounts, make sure to show or have a couple months savings in reserve to show them that you can pay a couple more months in mortgage just with savings- they want to see a buffer.
Be on them. Ride them hard! We signed a contract on the 10th and should close on the 4th if everything goes well. I have had to ride the mortgage co like a pony to get them to speed up.
Nov 28th is probably doable but might be tight due to the holidays. It really depends on your paperwork but probably won't take 3 months!
I will just say if you close on December 1st your first mortgage payment won't be due until Feb 1st. But if you close on Nov 28th, your mortgage payment will be due on Jan 1st. Just something to keep in mind!
About 30 to 45 days with our FHA loan. I guess the appraisers are pretty busy in our area right now.
Not a short sale or foreclosure.
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