Within 30 Days
With today’s cash home buyers, you can expect to close within 30 days on a home. Cash does not require any time frames for loan approval, etc. This means a closing can happen in as little as two weeks, depending on the time both parties are comfortable with.
With conventional loans, closings can take over 31 days due to the lenders needing proof from borrowers, appraisals, etc. Cash is much faster on the closing side.
Typically Two Weeks
Typically, closing a cash offer on a real estate transaction takes about two weeks. The process begins with the cash buyer making an offer. If the seller accepts it, the buyer’s funds will be verified within a day or two.
Securing title and escrow services takes an additional day while submitting earnest money requires at least a day for clearance. Title search requires three days and, in some cases, even up to a week. Inspections and appraisals are optional for cash buyers, but if you opt to have them, they can each take up to a week to schedule.
The final walkthrough takes an additional day while closing itself lasts only a few hours the next day. This two-week timeline assumes that there are no snags in the process. Delays may occur due to liens, bankruptcy, deceased individuals on the title, seller dishonesty, option periods, or low appraisals. Always prepare for the worst; by that, I would say three weeks to a month, tops.
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