No-Financing-Contingency Deals — How Fast Are They Really Closing?

Question

Working a handful of deals lately that move in the 1-3 week range since there's no financing contingency — cash, hard money, or similar. Makes the underwriting and inspection window feel compressed compared to a normal 30-45 day close. Anyone else seeing that fast a timeline become more common, or is that still the exception in most markets?

Jeff S. · Answer

Nothing new here, @Jack Shields. You appear young. Quick, non-contingent closes, sometimes in less than a week, have been the standard for aggressive investors for many years. One problem is that "non-contingent" is a funny term and subject to interpretation. I never understood why hard/private money has been accepted as a cash equivalent because this financing falls through all the time. And we're lenders.

We're the frequent recipient of panicked calls from borrowers whose private/hard money loans died days before closing. The key is to ensure the lender has a track record of funding quickly and reliably. Most sellers, or their agents, just take it on faith and don't find out until it's too late. This is exactly why God invented extension agreements.

Jesus Suarez · Answer

It is absolutely becoming more common, especially in competitive tiers. Cash and hard money are the primary ways buyers are winning deals right now, which naturally forces a 10-to-15-day close. The 30-day timeline is starting to feel like a luxury reserved only for standard conventional loans. It definitely forces you to have your inspector and contractors on standby the second you go under contract.