How long can it take to close on 150 units?

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Wayne Brooks · Answer

231 days.

Bjorn Ahlblad · Answer

A response like that desperately needs more than 1 vote! LOL!!

Todd Dexheimer · Answer

I ask for 30 day DD and 45 to close. That provides enough time for financing, surveys,  environmental, inspections, etc. Often times, however, there are delays in closing, which extend it to 90days+. The last one that I did took 4 1/2 months.

Omar Khan · Answer

30+30 is very common.

@Kyle Ransom If you've got deep pockets, your financing is lined up already i.e. you only need to spend 30 days doing due diligence. With a solid team, a sophisticated investor should be able to do this within 30 days easy.

Cody L. · Answer

I just closed on a 114 unit. Took 31 days. I normally tell sellers, when I’m getting financing that I’ll close in 30 days. I add 1x 15 day extension option that normally comes with a release of EM

If you’re working with a local bank you’ve worked with before should take 30 days. If you’re dealing with agency money, double  that.

Scott Morongell · Answer

@Louis Dobrik most deals are closing in 60-90 days right now. To find it however can take you much longer.

Kyle Ransom · Answer

In Atlanta GA I am competing with hedge funds that close in 30 days or less. Don't ask me how. But my broker says that 30 days DD and 30 days close is standard.

Theo Hicks · Answer

Typically contract to close is 60 to 90 days. But if you are talking about how long it takes to find a 150 unit, have an offer accepted, and then close, it can be anywhere from a few months to a few years.

How long can it take to close on 150 units?

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