Question in todays market how long does it take to close on a house I currently live in NYC. Also who is responsible for taking down an add on Zillow. Is there anyway of finding out if a home was sold, when I mean sold I mean papers sign and its a done deal
FOR THE SF/BAY AREA: Closing is expected to be 30 days.
You might be able to do a longer close, but it’ll cost you more, and it’ll have to be someone who doesn’t need the funds immediately for their next house. We did a 60 day close, but the owners had already closed on their new house, and they didn’t have any other offers after 3 weeks and 7 open houses, AND we offered over ask at a point where they should have been considering lowering the price. Our situation was unusual because my husband was changing jobs, and the mortgage company wanted to see two paychecks.
I have no idea about NYC. You’d have to ask a local real estate agent what the expectations are and how hot the market is.
As for Zillow–I don’t know who takes an ad down or who even puts them up. You should NOT rely on zillow for up-to-date info. Go and create a login on Redfin.com and you should get information that isn’t more than 24 hours old (I think updates are actually every 20 minutes, but not sure). Of course, it’s up the the seller’s agent to make sure sold houses are put in the system, and sometimes they don’t do it right away (couple of days), and sometimes they play games by delaying the change to pending to see if a new offer will come in, but it’s still as good as you’re going to get.