3 Reasons Why Closing Time Frames Matter
Buying a home is a huge financial obligation and there are several factors present that affect the outcome of a sale. There are many variables that pop up in the buying process and being prepared will keep you ahead of the game.
The closing of the sale is probably the most significant step in the process as it brings finality to the deal and means the home is finally yours. Short closing time frames are very important for a seamless transaction.
Being a strong buyer is crucial to winning the bid on a home. Seller’s know when a buyer is serious, and it is a huge factor in the acceptance or rejection of an offer. If you can close in 16-20 days, you will be considered a strong buyer that is able to compete in any market.
Compete with cash offers
If you are closing within the 16-20 day time frame, you will be able to compete with cash offers even if you are financing. When you are ready to close in the short time frame, all you are waiting for an appraisal then you are sending it to escrow. The seller is not really all that concerned on where the money comes from, just that they get paid in a short amount of time.
Closing in a short amount of time will save you money. By having everything wrapped up in a matter of weeks means you don’t have to extend a lease or extend the sale of your current home. The deal will close giving you plenty of time to move your belongings into your new home.