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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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No mortgage needed, how quickly is the closing??
Has anyone ever sold their home or bought a home without needing a mortgage?
A loved one is selling their home and someone is very interested who does not need a mortgage.
Typically, I know there's a long wait to close and all - in this situation, how quickly can one close?
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Posted 3/10/15 10:21 AM  |
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MrsS1231
LIF Toddler
Member since 1/15 495 total posts
Name:
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No mortgage needed, how quickly is the closing??
When I had an offer on my co-op I was told that it would only shave a few weeks off. I'm not sure of the time difference with a house since you don't have to meet with a board.
My father is a RE attorney, I'll ask when I see him tonight.
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| Posted 3/10/15 11:22 AM |
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MrsS1231
LIF Toddler
Member since 1/15 495 total posts
Name:
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No mortgage needed, how quickly is the closing??
3 weeks instead of 2-3 months
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| Posted 3/10/15 11:29 AM |
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Re: No mortgage needed, how quickly is the closing??
Depends on how quickly title can be pulled and if there are any issues. I sold a home all cash and it still took 6 weeks due to variance issues. I've also sold a house that needed a mortgage and there were no title issues and it closed in 4 weeks. There are still variables and every case is different.
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| Posted 3/10/15 11:44 AM |
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mommy2B3
2 boys 2 girls!!!!
Member since 7/08 3324 total posts
Name:
M
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Re: No mortgage needed, how quickly is the closing??
We closed in 2 weeks. It was a fairly easy thing, it took all of 15 mins at the closing table as well.
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| Posted 3/10/15 11:56 AM |
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DaniJude
You're My Home <3
Member since 11/06 14815 total posts
Name:
Danielle
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Re: No mortgage needed, how quickly is the closing??
OK cool - this is what I needed to know.
The title shouldn't an issue because they only just bought the home three years ago and that came up good to go then.
So, this is going to be FAIRLY easy...
FAMOUS LAST WORDS 
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| Posted 3/10/15 12:03 PM |
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FirstMate
My lil cowboy
Member since 10/10 7790 total posts
Name:
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Re: No mortgage needed, how quickly is the closing??
The title is what will hold it up. If they hire a title company that has a quick turn around time and barring any title issues, it can close in 3 weeks. And the best part is the closing itself takes less than a half hour. My favorite kind of closing.
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| Posted 3/10/15 12:06 PM |
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