The overall timeline starts with putting the house on the market and having scheduled showings and some open houses. Depending on the type of market we are in, this could take a few days to generate a purchase agreement (in a seller’s market), to a few weeks (in a buyer’s market).

Once we have a purchase agreement, if there is an inspection contingency, this period of time could take about 7 days. The buyer will schedule whatever inspections they want, and they may ask for some repairs. But the overall inspection contingency timeframe is usually about 7 days.

If this offer is a financed offer, next comes the appraisal process. Once the inspection contingency is removed, the buyer’s mortgage company will schedule an appraisal. Appraisals usually take about a week to complete, but in fast markets, it can take 2 weeks because there are so many more homes being sold, and a limited number of appraisers.

After the appraisal is done, underwriting can be completed. This can usually be done at the same time as title work.

Title work usually takes 3-5 days to complete.

Overall we would generally say the process from purchase agreement to closing is typically 4 to 6 weeks for a financed offer. If it’s a cash offer no inspection, it could be as little as 1 week for title work.