closing date
Started by qqq
almost 19 years ago
Posts: 66
Member since: Jan 2007
Discussion about
What is the usual length of time between signing a contract and closing? I'm in negotiations now and the seller is specifying a closing date in late August. I'd like it sooner. Sellers broker is telling me that with the board approval process its unlikely we could do it sooner even if seller agreed.
You should probably close tomorrow because the weather is nice.
Depends on whether it's a condo or a coop. I'm assuming you're talking abt a coop because you mentioned a board approval. Also coops take longer to close because you need time for the board approval process (review your application, meeting, etc).
Still, 3 months is long. Unless there's an issue (i.e. your financials didn't meet expectations and they need more info) they should be able to meet with you within a couple of months, depending on when you complete your application.
If you haven't signed the contract yet I'd have your atty negotiate a condition that the board board must review your application within stated period of time or the deal is off.
What you don't want to happen is have this drag out. good luck!