What Buyers & Sellers Should Know About Closing Time Frames
Closing outside of the normal 30- to 45-day window has both advantages and disadvantages.
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What’s a normal closing time frame for a real estate transaction?
In the Denver metro area, most closings happen within 30 to 45 days. That being said, both buyers and sellers occasionally need longer or shorter time frames to complete the home sale.
There are both pros and cons to closing outside of the normal time frame. If the closing happens quicker than 30 days, for example, buyers will get their new home faster and sellers will get their money faster. However, that’s a very short window to get all the action items completed—home inspections alone can take some time to get all the repairs finished.
There are both pros and cons to closing outside of the normal time frame.
On the other side, longer closings typically take 60, 90, or 120 days. This is great if you need extra time as a buyer to get all your inspections done or if you’re a seller and you need extra time to find your next property.
Sellers need to be aware, though, that buyers can back out of a deal for a number of reasons, and you wouldn’t want your home to be under contract for two or three months only for the buyer to back out. Then you’d have to re-list your home in a new market.
If you have any questions about this topic or you’re thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’d love to help you.