Contract to Closing Time Frames in Bonita Springs
In the Bonita Springs area most contract to close scenarios range from thirty to sixty days. Many real estate consumers may have seen the cash buyers on real estate reality TV shows casually throw around rapid closings in a week or less. It could happen but in the Bonita Springs area it is not likely.
Thirty days is generally needed in order for the home inspections and application to the homeowner association – back ground checks to be completed in order to close the home or condo. Bonita Springs is about seventy-five percent gated and deed restricted so applications to join HOA membership are usually necessary.
If a buyer is obtaining a mortgage they may need thirty to sixty days to process the mortgage and get it through underwriting. The appraisal process alone takes a few weeks plus add to that the completion of the underwriting process for the mortgage and any potential home inspection related repairs and you get an idea of why the reality TV approach isn’t likely in the Bonita Springs area.
Real estate is very unique and if you are a home seller who is considering listing your home for sale know that your listing agent can help you coordinate moving or closing dates to accommodate your needs. There are times where a longer or shorter closing can be negotiated. There are also home buyers who allow the home seller to lease the property after closing, for example, if they are building a new home that isn’t quite finished or if there are children finishing the school year.
The long story short is that contract to closing is a case by case and can be negotiated. If you communicate your needs with your listing agent you should be able to agree to a comfortable timeframe for you and your family to close sale on your home.
To learn more about the current market conditions and how that may effect your closing time line contact Chris Griffith by text or call 239-273-7430. Chris is an experienced listing agent in the Bonita Springs, Florida area and a Certified Residential Specialist.