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Wednesday, September 24, 2008

How Long Does a Real Estate Closing Take?

Reader Question: After all paperwork is submitted how long does it take to close [on a house]?

If you're referring to the actual closing process (as opposed to the days leading up to it), you should be in and out in a couple of hours. Maybe less. Different closing / escrow agents handle the process in different ways. But in every real estate closing I've experienced, the sellers will be "released" first, just as soon as they get their proceeds / profit check (if there is one).

Don't be in such a hurry that you gloss over the paperwork thought. It may seem tedious and mind-numbing -- and I can guarantee you'll sign your name until you have writer's cramp -- but all of the paperwork is important. Take your time and ask as many questions as you need to.

Related article: Pre-closing checklist for home buyers

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