Under normal market conditions, the average time to complete the sale of a home is 30 to 45 days. Though, well-prepared home buyers have been known to purchase properties faster than the averages.
Market conditions are a major factor in how fast homes are sold. In hot markets with a lot of sales activity, buying a home may take a little longer than normal. That’s because several parties involved in the transaction get behind when business suddenly picks up. For example, a spike in home sales increases the demand for property appraisals and home inspections, yet there will be no increase in the number of appraisers and inspectors available to do the work. Lender turn-around times for loan underwriting can also slow down. If each party involved in a deal takes a day or two longer to get their work done, the entire process gets extended.
If you’re ready to make your move, consider contacting us at Hometown Realty in Hutchinson, MN. We would love to show you what we can do to make that happen and discuss all of your real estate options.
Source: HouseLogic.com.
