This is for you buyers out there wondering how long it takes to buy a home. In South Carolina, the way it's averaging right now, it typically takes, if you're financing a deal, typically takes about 45 days from the day of contract to the day of closing. That's kind of the rule of thumb what we go for. That gives the lenders enough time to get their stuff in order, that gives time for a home inspection, gives time for a termite inspection and anything that a buyer would need, title search and things like that. If it's a cash deal, that process could be sped up some. I've seen things happen as quickly as 14 days if it's a cash deal. But most financing deal is somewhere in the range of 45 days.
What I would strongly recommend to make that easier for you and speed up the process is make sure that you talk to a lender before you start putting offers on property. Any seller, any agent that is going to look at offers is going to want to see a prequalification letter in this market. So go ahead and talk to a lender, get your pre-qual letter, have an idea of which homes that you want, start looking at them, and then whenever you're ready. Once you get that offer accepted, shoot for around about 45 days or so if it's a financing deal.
- Abe Safa