Just How Long Does It Take To Sell A House
By Kurt Real Estate Nov 23, 2019
Home sales transactions don’t just happen overnight. Putting your home on the market takes time and selling it can be a lengthy process. There is a lot of prep work that goes into it. Just getting your home open house-ready can be a time-consuming task. Every part of the process is important so you should be planning your time accordingly.
Listing your home: 3-5 days
Your listing agent will need to gather all necessary information regarding the property, create an MLS listing for it, and generate syndicated marketing materials to reach as many potential buyers as possible.
Getting an offer: 65 days
Of course, you can get an offer much sooner than that, but the current average of properties on the market is 65 days. Depending on location, this can vary drastically. Homes in Orange County, Los Angeles, or San Francisco may sell much quicker than other areas.
Closing escrow: 50 days
It takes an average of 50 days from the time the buyer submits an offer to the time they can close on a home. To put it simply, in order to sell a house, it takes a good amount of time. Mortgage companies need to do their due diligence in getting a buyer approved and, if the purchase is contingent on the sale of the buyer’s home, that too can take a significant amount of time.
Getting paid: 0 days
After all this waiting time and effort put into listing your home and closing escrow, the good news is you get paid the minute you sign the dotted line. The escrow company will disburse the cash payment generally via wire transfer on closing day.
Moving out: 0 days
On closing day, you’re expected to be completely moved out. As you may already know, it is during that time in escrow that you will be packing up, making your repairs, and getting your house in “good as new” shape for your buyers. Once closing day comes, title is transferred and you no longer have possession of the house. In some cases, special exceptions like a rent-back agreement may be arranged to allow the seller more time to find a new home and move out.
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