Date to closing sooner or later what’s best

Buying & Selling Real Estate
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Date to closing sooner or later what’s best

Andrew Leighton
El Paso, TX · Member since 2017 · 17 posts · 3 votes
So I am new here and I’m about to start my real estate investing venture. I am placing an all cash offer to a foreclosed VA home and my real estate agent just asked me what date I wanted to close. I live in Texas I’m not sure if that has anything to do with it. But anyhow I’m not sure how much time I should put from offer acceptance to closing date. Is quicker better or should I give a couple weeks delay?
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  • Yuriy Skripnichenko
    Property Manager · Phialdelphia, PA · Member since 2017 · 508 posts · 627 votes
    8y

    @Andrew Leighton

    If it's a cash deal and you are buying as-is with no inspection contingency than the sooner the better. If you have any contingencies in your offer that you need to have time for you should account for them. Otherwise with a cash deal it doesn't matter and depends only on your plans. Also it it's a foreclosure it may take a few months before you are able to close

    Hope this helps

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  • Tom GimerBusiness Member
    DMV · Member since 2017 · 3k+ posts · 3k+ votes
    8y

    Read the auction terms. You are likely the owner and responsible for taxes, etc. from the auction sale date forward. Likely makes no sense at all to delay closing.

    Sorry, just re-read your question... this is an REO. Fast closings are always more attractive to motivated sellers. 1-2 weeks is all a good title company should need but check with title first.

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