How Long Does It Take to Close a Home Sale?
The closing process can vary widely from state to state and there are a number of variables that can
determine how long it takes to close a transaction. Each step in the home buying process has the
possibility of causing delays.
The average closing time nationwide is about 40 to 50 days after the offer is accepted unless any of the
following closing problems surface.
A buyer running into problems getting their mortgage approved is, by far, the most common issue that
can cause a delay. A low appraisal can also cause problems. If the appraisal is too low, the sales price
might need to be re-negotiated. A home inspection can also cause delays if it uncovers repairs that need
to be completed before the closing.
The closing itself usually takes about an hour to an hour and a half. You can’t control everything in
the closing process, but you can manage your responsibilities in a way that will help speed up the process.