How Long Between the Offer and the Closing Date?

Reader Question: How long until closing after the offer is made on the home?

That's up to the buyer and the seller. Because when you make an offer on a home, the closing date is one of the things you would write into the contract.

Typically, there will be a window of 30 - 45 days between offer acceptance and the final closing date. But it's up to the parties involved. I've seen scenarios where there was only a two-week escrow period between the offer and the closing, and other times when a 60-day escrow was used. It's something the buyer and seller must agree on before the deal can proceed.

As a buyer, you would need to allow enough time for the appraisal, home inspections, etc. In fact, one could argue that the home buyer is typically busier than the seller at this stage of the game. Both parties are preparing for a move, but the buyers must also get their final approval from the lender (with all of the paperwork that involves), go through the appraisal process to ensure they can get their loan, arrange for home inspections, etc.

This is why you sometimes see a home go under contract (meaning an offer has been accepted) but then come back on the market. In most cases, this means that the buyers could not get their financing approved.

Here are some related articles on this subject you may find helpful:

• How do you make an offer on a house?
• What happens after the offer is made?

I hope that helps you out. Happy holidays.