Cash offer
Started by sammy300
about 14 years ago
Posts: 208
Member since: Mar 2012
Discussion about
How long does it take to close a unit in a condo if you are a cash buyer?
Contract done and deposit paid?
Board process?
Is title clean?
S300 -- Condo Board typically has 30 days in which to waive its right of first refusal, though many don't wait that long. Once given, most condos can be closed as soon as the parties can agree to come to the table (most difficult party to corral may be the seller's mortgage lender, if there is a lien to be released at closing). Net-net, it can be as short as 15 days after completed purchase application is submitted, or it can take 50 days.
Thanks SMattingly
Consigliere -- Contract done; deposit paid; clean title. There is no board process just an application with the standard financial info requested.
2 weeks or less Sammy if that is the case. Talk to your attorney.