How Fast Do You Usually Need Funding to Close a Deal?

Question

Just wondering — when you find a great deal, how much time do you typically have to close?

Do you prefer lenders who can move fast, or are you okay waiting through traditional approval times?

Elealeh Fulmaran · Answer

Speed wins on tight deals, but match it to your financing. With cash or proven private money, I target 10–14 days to close and a 7–10 day inspection; with financing, plan 30–45 days and don’t promise faster than your lender can actually deliver . I prefer reliable lenders who hit dates over a slightly cheaper quote that risks an extension or fallout; a thousand bucks saved is nothing if you lose the deal . Best move: line up docs and an appraisal slot now so when a winner pops, you can write a confident close date and perform.

Stuart Udis · Answer

It depends on the transaction. It seems like your question is directed towards single family/small multi-family transactions. They come with quicker settlement timeframe expectations than commercial transactions. SFH's settlement periods are often influenced by financing whereas commercial transactions may have lengthier diligence periods and other factors that influence settlement periods. Even commercial financing takes longer solely due to the turnaround times for commercial appraisals.

How Fast Do You Usually Need Funding to Close a Deal?

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