I’m sharing a quick update about the unique market we’re in right now.Search All Homes on the MLS Here Receive a FREE Home Value ReportToday I want to update you on a unique situation
Breaking Down the Time Frame for Home Sellers
Dated: January 21 2020
Timing a home sale is tricky, but it’s easier when you know what kind of time frame you’re working within. Here’s how long the average home sale takes.
The question I’ve been getting a lot lately is, “When’s the best time to sell?”
Although this is a good question, the question you should actually be asking first is, “What is the best time frame for selling?” When you understand that, you can back it up to figure out when you need to start the process.
The first part of the process is figuring out with whom you'd like to work. This can take one phone call or it could take a lot of research. On average, it usually takes a week or two.
The next part is how much time you need to prepare your home for showings. I would say that most of my clients will need touch-ups or updates in paint and flooring. Most buyers will pay more for a move-in property in today’s market. Unfortunately, most people skip the updates and that results in a lower price and sometimes, a longer sale. On average, this step will take about a month.
Now you’re ready to put the home on the market. The average market time is around 90 days, but it could be longer or shorter depending on your area.
There’s also fall-through time to plan for. This could include financing falling through for a buyer, home inspection issues falling through, and attorney review. This might add up to another month.
Once you get under contract and are ready to close, the average time for a loan to process from start to finish is around 45 days.
When you add up all of these different time frames, the entire process of selling your home could easily take six months or more.
I’d be happy to get together with you to figure out how long the process will take for your personal situation. If you have any other questions for me, feel free to reach out via phone or email. I look forward to hearing from you.
Whether you are looking for a new home, have a property to sell or have a property to rent, The Brian Ernst Team at eXp Realty can help you achieve all of your real estate goals by bringing their expe....