# Attn: Real Estate people - how fast can I buy a house?



## BlueRocker (Jan 5, 2020)

So I've found a new house I am putting in an offer today. It is vacant, has a recent survey (July 2021), and I'm using the same home inspector another person used who did not ultimately proceed (it needs more work than they were comfortable with). We've been working with the bank for the last couple of weeks getting our financing in place so my question is: Assuming the lender says yes (I'll be owning two houses for a while) and the title is clear, is possible to close in 10 days or under? If I can make this happen before the end of December I won't have to stay in a rental when I start a new job in January.


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## tomee2 (Feb 27, 2017)

My limited experience advice as a buyer... call your lawyer about timelines for what they do. Good luck with your purchase!


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## keto (May 23, 2006)

Up to the bankers and lawyers, and whether there is any backup at land titles office.

I work in finance but not mortgages, but have clients doing mortgages all the time to update finances. Customers call me on a late payment, say they'll be paying with mortgage proceeds, I know I am in for a multiple MONTH wait. 2-3 typically, the range of 8-12 weeks very much describes 'average'.


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## RBlakeney (Mar 12, 2017)

Definitely possible. My house had a quick turnaround and was maybe 3 weeks from when we viewed it to when we were moved in.


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## Eyeroller (Dec 5, 2017)

It can definitely be done if your lender and lawyer have all their ducks in a row. I am a realtor and have had a couple of clients close in 10 days. Its good you have been arranging financing ahead of time. Good luck!!


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## DaddyDog (Apr 21, 2017)

For sure that's a question for your lawyer. I don't know if Nova Scotia has their properties fully computerized. They are in Ontario and Manitoba. The transaction can be completed very quickly these days.


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## Sketchy Jeff (Jan 12, 2019)

BlueRocker said:


> is possible to close in 10 days or under


a friend of mine made an offer on a house on Friday, it was accepted, they're at the lawyer's today and their posession date is Dec. 10 so the answer to your question is yes if the ducks are all in a row. it mostly depends on your lawyer's pace. if s/he sees any red flags the process will slow to a crawl until you demonstrate ability to jump through whatever hoops get put up 
j


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## knight_yyz (Mar 14, 2015)

A friend of mine was able to close in less than a week. It all depends on how fast the seller can get the heck out of the house. In this case the owners had already moved out.


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## Alan Small (Dec 30, 2019)

BlueRocker said:


> So I've found a new house I am putting in an offer today. It is vacant, has a recent survey (July 2021), and I'm using the same home inspector another person used who did not ultimately proceed (it needs more work than they were comfortable with). We've been working with the bank for the last couple of weeks getting our financing in place so my question is: Assuming the lender says yes (I'll be owning two houses for a while) and the title is clear, is possible to close in 10 days or under? If I can make this happen before the end of December I won't have to stay in a rental when I start a new job in January.


@bluehugh2


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## bluehugh2 (Mar 10, 2006)

The “weak links” are the lawyer and his work to guarantee title…plus the ability for the bank to advance the funds in time for closing … if the seller says “yes” to the date… you can go from contract to closing 1-2 weeks. And that’s lightning fast.
Or you could occupy the house immediately as part of the agreement… until closing… but the seller’s lawyer won’t like that as it creates serious issues should the property fail to close - they end up with a squatter/tenant.


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## Stephenlouis (Jun 24, 2019)

My first house, I had everything in place, but I closed in 10 days, it was part of the deal on a bank sale. It can be done.


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## BlueRocker (Jan 5, 2020)

I guess we'll find out soon enough - offer was accepted tonight with closing on the 17th. Thanks for all the responses.


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## greco (Jul 15, 2007)

@BlueRocker By chance, are you relocating to the Digby/Bear River area?
(we have briefly discussed this in the past)


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## BlueRocker (Jan 5, 2020)

greco said:


> @BlueRocker By chance, are you relocating to the Digby/Bear River area?
> (we have briefly discussed this in the past)


No - I accepted a new job in Antigonish and am starting January 3rd. I found a nice rural property with apple trees and an old barn (which is getting torn down for my new music studio). Still have my place in Annapolis County though - I think we'll probably stay at the new location for the foreseeable future.


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## greco (Jul 15, 2007)

BlueRocker said:


> No - I accepted a new job in Antigonish and am starting January 3rd. I found a nice rural property with apple trees and an old barn (which is getting torn down for my new music studio). Still have my place in Annapolis County though - I think we'll probably stay at the new location for the foreseeable future.


Thanks.

CONGRATS on both the new job and the new house. ENJOY!


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## bzrkrage (Mar 20, 2011)

The place on Summerside Road?


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## BlueRocker (Jan 5, 2020)

bzrkrage said:


> The place on Summerside Road?


Got an MLS number?


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## BlueRocker (Jan 5, 2020)

Well, we had to extend the closing by a few days but it appears to be a done deal. I didn't count on a couple of things:

1. Appraisals - if you need an appraisal, there's a good long wait as appraisal companies are flat out (at least here). We managed to avoid the appraisal, which would have delayed into January.
2. Lawyers - I called seven law firms before I found someone who would even think about taking on the work. They're in the same boat as appraisal companies.

Hoping to close next week. First load of gear will be inbound shortly thereafter (I'll be in bachelor mode for the first few weeks anyway so no volume restrictions).


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## markxander (Oct 24, 2009)

Damn have you thought of a new GC name yet? 😁


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## RussEllis (10 mo ago)

The purchase of our house also didn't take long, which I'm very happy about. Thanks to our realtor, we could quickly buy a house and move there. The only thing that had to be delayed was the repair, which the designer from boutiquehomeplans.com did for us. It's good when there are companies that can provide fast services and make the design as close as possible to what I dreamed of. Of course, the most important thing for me was the convenience of my family and a separate office to work comfortably. I'm probably even glad that now I work from home because I can spend less money on gasoline.


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## Sunny1433 (Nov 23, 2018)

In this kind of market, that kind of closing is definitely seen as desirable by the sellers. My wife’s a realtor (and so are her parents) and she’s actually had offers accepted because her client’s had a shorter closing period.


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## butterknucket (Feb 5, 2006)




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## butterknucket (Feb 5, 2006)




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## butterknucket (Feb 5, 2006)




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## WCGill (Mar 27, 2009)

Real estate agents:


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## derffales (8 mo ago)

I wonder if you were able to buy that house before you sold the old one? I want to sell my condo to buy a house out of town. I found a great house and already gave a down payment on it. I'm a little worried that I won't be able to sell my condo in time to pay for the house. I really like it, and I'm not ready to lose it. 

It has always been my dream to furnish my own home. In this house, I will be doing renovations to my liking. My friends from work advised me to contact the designers from onstage-online.com. I hope the deal goes well, and I can plan the furnishings in this beautiful home!


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