1,078,091
Thanks for the responses, interesting to see so many different answers.
Jill Murty, Realtor I appreciate that. Reason I asked the question is with rates falling and both refinance & purchase business picking up quickly, I'm still getting 3 week contracts. We can do them now, but I worry in a few weeks it could cause a lot of the problems/headaches you mention.
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Jill Murty, Realtor - ...
Laguna Niguel, CA
2,443,250
Absolutley not! I taylor it to the normal processing time of my Lender for the type of loan they are going to apply for. If I believe their will be multiple offers I say in my cover letter that closing times are flexible for the buyers.
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John Meussner
Fair Oaks, CA
3,988,013
Yes it is a concern so I will add a little bit of extra time but not too much because we have lenders that will take every extra day we give them and not try to close earlier.
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John Meussner
Fair Oaks, CA
1,027,602
In a busy market, a shorter escrow is sometimes necessary in order to be competitive, but it has to be a date the lender thinks we can hit.
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John Meussner
Fair Oaks, CA
400,356
I speak with the lender and ask what timeline is completely realistic. I think that small step can set expectations and avoid having to solve problems later on.
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John Meussner
Fair Oaks, CA
4,800,132
No, John, though I will factor in the time needed for a loan approval and the desires of both parties as to a mutually acceptable date.
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John Meussner
Fair Oaks, CA
6,417,434
Best to consult with the lender that pre approved the buyer when setting these dates.
279,878
3,071,489
2,224,473
I mainly work with buyers that are preapproved....not pre qualified. So that isn't a problem and gives me an edge. I'm also in close contact with the lender.
1,525,616
I usually ask the loan officer how much time is needed and also take into account my buyer's time line.
3,986,308
I try and make a closing date that is beneficial to my clients. Closer to the end of the month the better for their closing costs. But if they want an earlier one...that is what we shoot for. I don't have any issue with underwriters getting my loans done. My lendeer knows that if they can't do it I wil fins someone that will so I dont' have any issues.
4,319,773
I usually check with the listing agent John Meussner about what seller is looking forward to - and if that works well with the buyers, that becomes the closing date.