How long does the process of buying and selling real estate takes?
The standard term for the sale of housing is 2-3 months. This is how long it usually takes to sell an apartment, but taking into account the fact that there will be a buyer in the first two weeks or a month. From the moment of the initial consultation, a preliminary assessment of the market value of real estate, until the transaction in the bank, the seller receives his money for the apartment and the signing of the acceptance certificate, it is possible to meet such a tight time frame, but with only one caveat, if a competitive the price and all the necessary documents will be at hand.
The sale of an apartment can be broken down into 4 main stages in terms of time consumption:
- time spent looking for a buyer (exposure in advertising, showing an apartment, waiting for a Buyer);
- time to prepare the deal (the Buyer is found, we are negotiating, collecting documents, checking out of the apartment, waiting for the Buyer to check everything, agreeing on the terms of the deal and cash settlements); if the Buyer has a mortgage, then we are still waiting for the agreement/approval from his bank;
- time for the execution of the apartment sale and purchase agreement and the execution of the transfer of money (we meet at the deal, read and sign the agreement and the settlement agreement prepared at the previous stage);
- time to register a deal.
How long does it take to buy and sell real estate?
The actual purchase and sale of an apartment itself can take from 2 days to 2 weeks and it also has its own components:
- Signing a contract
- Financial settlements
- Registration of the transfer of ownership of the object
- Receiving documents after registration
- Transfer of an apartment to a new owner