How Long from Contract to Closing?
I had my first TILA-RESPA Integrated Disclosures (TRID for short) closing last week. I survived.
- No horrible delays.
- No long drawn out 45 to 60 day closings.
- No real hiccup to shake the foundation of the Real Estate World.
So how long from Contract to Closing?
Well, really 35 days maximum if you have a good lender who has experience closing TRID loans. Otherwise, I cannot guarantee what it will be like. If you are closing with a house to sell, make sure that the lender can close the same day. There are some who will do it with no fees and others who will charge fees. You need a lender who has experience in TRID closings. It will make it so much easier on you, the consumer. If someone has not piloted the TRID program before or is going to charge you anything to have same day closings, you may need to find another lender to save you the hassle.
Thank you Ashley Siler from Guaranteed Rate for a fantastic and stress free closing for my clients! I’m glad TRID is not the big bad wolf that we were all making it out to be in October 2015!
How long does it take to look for or sell a home?
The Million Dollar Question Right? I know some people are very fixated on stats and averages. How many homes on average do people see before they buy? How many showings do I have to have before I need to lower the price? Can you estimate how long it will take me to find a home or sell my home? These are some of the questions I get asked.
I know I frustrate people when I say: “Hold on. We are on a journey here. The answer is however long it takes you to find the right house or find that right buyer for your home.” I truly believe in an individual’s Real Estate Journey. It’s not an easy road. It usually has a lot of twists and turns. One minute you think you found the one and then the next minute you discover that you are starting all over at square one.
A lot of the situations faced are predicated on how well the inventory is doing. If you have low inventory and a well-priced home, then it will most likely result in a fast paced environment. If you have high inventory and a not so well-priced home, then it will most likely result in slow paced environment. Then you have all the shades of gray in between.
Using stats and averages and taking a look at the numbers should be utilized as a guiding system. Use them and act upon them as indicators toward your Real Estate Journey.
Google Contacts as a CRM System
Tired of using those expensive and outdated CRM systems? Don’t use half the features of the darn thing? Check out Google Contacts.