How fast can one realistically buy and move?

amother

Powderblue

Mon, Apr 03 2017, 2:10 pm

We are planning to move at the end of the summer and were planning to start looking at houses after Pesach. We are first time homebuyers, so nothing to sell. Now I want to speed up the process because I no longer feel safe in our current abode. How quickly realistically can we buy something and move in?

amother

Rose

Mon, Apr 03 2017, 2:34 pm

Realistically it can take up to a few months for a mortgage. I am in the field and we say 6 to 8 weeks. Realistically in the perfect file it can take 5 weeks but that's rarely happens.

amother

Babypink

Mon, Apr 03 2017, 2:34 pm

Such a vague question!
Depends what area
What your looking for
Price range
Condition
Etc
Are you going to get a mortgage? Get preapproved to speed up the process.
We just bought and moved. Looked for a few years. Ended up building.

amother

Ruby

Mon, Apr 03 2017, 2:56 pm

Things can take a while. You need a mortgage, inspection, title search etc. That's assuming you find what you like right away.
By us, our mortgage company was suddenly audited and we had to restart the whole process half way thru. Added a lot of time .

amother

Crimson

Mon, Apr 03 2017, 3:41 pm

We bought recently and this was our experience.
After we found our house it took a few weeks to get the house inspected and revise the contract. We were not in a rush to close on the house since the previous owners wanted to move on a certain date 4 months later and we were ok with that. The bank knew this and literally didn't give us the mortgage until the day before closing, which I heard is normal. Once we closed on the house, we did very little work and moved in a week and a half later. After you close, you can move in right away if the house is ready to live in.

The main issue you'll run into is how long the bank will take in getting you the mortgage. If I were you, I would ask your mortgage consultant all the paperwork you'll need throughout. I'm not just talking about bank statements and tax returns. We constantly needed different paperwork that we were unaware of like our employers had to fill out forms. You should get someone that's experienced in mortgages and will know all the hurdles that might come up. They'll also likely have some pull in the other departments and may be able to rush some things.
Good luck!