how long from offer to close (is this reasonable?)

makinithappen · January 2012

I know when someone makes an offer, they can stipulate how long they want until closing with most requests of 30-45 days. Is a 90 day closing unreasonable? I understand that we can ask for whatever we want but don't want them to think we're crazy.

SuwaneeGirl · January 2012

It depends. Is the property you are trying to purchase a short sale, a regular resale, or a new home?

car_ramrod · January 2012

As a seller it would have to be a VERY strong offer to make me accept with a 90 day close. 30 - 60 is really the norm. for the seller you are potentially taking them off the market for 3 months and then if it falls through they have to start over. I would probably not accept it but if the seller is desperate they might. How long has the house been on the market for, that would be another factor.

Desmond&MollyJones · January 2012

I would say that's a little bit crazy.

makinithappen · January 2012

I'm not sure if it's a reg sale or a foreclosure. I saw it online a couple of days ago while just seeing what's out there. It's very reasonably priced and hasn't been on the market long, but we aren't quite ready to buy yet and I thought about seeing if it was still for sale in a month then offering pretty much full price with a 90 day close. This is all still in my head right now but the house seems perfect (before the inspection) and I didn't know if I should just completely let it go or if there was maybe a shot.

Justinlove · January 2012

If it is a regular sale, it will really depend on the sellers.

If it is a foreclosure, the bank is going to want to close ASAP once an agreement has been reached. They want the property off their books.

mrs.jacinthe · January 2012

I would also say that it depends on how long the house has been on the market and what else you throw in to sweeten the deal. For example, our house in OH finally sold in Dec having been on the market for 6 months. The buyers asked for a 120-day close (max) in order to get their financing in a line. We jumped on the contract because a) we really want to be rid of this house and b) they wanted to rent the house between now and close. Thereby relieving us of the responsibility of paying the utility bills on an empty house in Ohio in wintertime.

stephm0188 · January 2012

We asked for a 90 day close. We were willing to be flexible and bump it to 60 or even 30 if they had asked, but it wasn't an issue for them. They had been trying to sell the house off and on for three years, and it had been on the market for nearly a year before we made an offer.

PeanutsCL · January 2012

There's no harm in asking. Who knows, they may still need the time to find a home to move into themselves. At worst they'll counter offer with a shorter closing period.

LadyExtravaganza · January 2012

We accepted an offer on our house with a 90 day close (accepted early Nov, closing at the end of January). For us, it worked wonderfully because we were debating pulling the house of the market so we didn't have to worry about it during the holidays, but it allowed us to relax and enjoy the holiday season without needing to pack until January rolled around.

It's worth a shot.

michaelandjulie2 · January 2012

We really wanted a 90 day close so that we would not close so early as to pay rent and mortgage in the same month. Our agent strongly advised against it, so we went with 45 days. The sellers countered with a 90 day close, which we GLADLY accepted. It was a win-win. My point is that it never hurts to ask.

how long from offer to close (is this reasonable?)

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