Closing on a House - Why Does the Process Take So Long?
June 28th, 2009After the buyer and seller agree on a price, there are still many more steps that occur before closing. While a buyer will have pre-approval for a maximum loan amount from a bank, the buyer will now have to contact the bank in order to draw up documents relating to the specific loan amount that the buyer will need for this transaction. If started right away, this part of the process should not impede the actual closing, but it can take time if the lender requires various conditions be met before closing.
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