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How Long Does It Take to Sell a Home? Here’s a Timeline

How Long Does It Take to Sell a Home? Here’s a Timeline


How Long Does It Take to Sell a Home? Here’s a Timeline

Many homebuyers have one big item on their to-do list after they find their dream home: sell their current home. How long will that take? Let’s look at the factors that impact how fast your home sells, and a timeline for the selling process.

Factors Impacting Your Home Sale

  • Current market
    If there are more buyers than sellers in the current market, your home should sell fast. If the market’s glutted with inventory, hang tight because selling will take longer.
  • Your home’s condition
    Move-in-ready homes are attractive to a wider array of buyers and typically sell faster than fixer-uppers.
  • Time of year
    Many people move in the summer, when their kids are out of school. Your house may get snapped up in days if you’re selling during the summer, but may sit for weeks if it’s on the market in the dead of winter.
  • Your real estate ad
    Marketing is priceless. Descriptive language like “expansive, gorgeous, spacious” gets buyers’ attention and makes them want to see the property.

Timeline for Selling Your Home

An average timeline for selling your home includes:

  • Listing (pricing your home): 2 days
    You and your real estate agent should go through your home, look at comps, and discuss a listing price. It should be reasonable and fair to you and the buyer. Keep in mind how buyers budget. For example, they may want to stay below $300,000. In these cases, pricing of $299,900 may get you more interest than $305,000.
  • Showings: 1-2 weeks
    Be prepared for multiple showing starting the day after your home hits the market. Keep it clean and neat to make the best impression with buyers.
  • Accepting an Offer: 2 hours-10 days
    This part of the selling process can vary greatly. If a buyer makes you a reasonable offer, the process may go fast. However, if you receive multiple offers or lowball offers, or if the buyers want several contingencies, the back-and forth negotiations may drag out for several days.
  • Inspections and Repairs: 1-2 weeks
    The inspection will only take a couple of hours, then the inspector will write up his report within a couple of days. Once the buyer reviews it, they may request you to make repairs based on what was found. The time to complete these (if you decide to) can vary based on the repair person’s schedule and the scope of the work.
  • Title Search: 7days-2 weeks
    Ensuring you have a clear title to the property may take a week or two, depending on how much work it takes for the title company to clear it and how busy they are.
  • Appraisal: 5 days-2 weeks
    Appraisers must look at the property and write up the report. This can go fast or slow, depending on how much other work the appraiser is handling. The appraiser sends a copy to the mortgage loan company and borrower.

Closing: 2 hours
Once it’s here (finally!), closing day typically only takes a couple of hours.

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Mortgage Investors Group, based in Tennessee, offers residential financing in a number of states in the southeast, See MIG Service Areas. Terms and conditions to apply to home financing. We want to share with you the loan terms vary based on several characteristics and your financial profile. These include but are not limited to loan program, loan purpose, occupancy, credit history, credit score, assets, and other criteria per loan type. The repayment terms and interest rate may vary from time to time. The terms represented here are based on certain assumptions outlined below and/or noted on the loan outline page. Additional details concerning privacy, program disclosures, licensing specifics may be found at migonline.com Legal Information.

MIG Loan Officers will help gather the information needed for an individual assessment to provide home financing which matches the loan characteristics with your home financing needs based on your financial profile, when you are ready to begin a full loan application. For estimates and general information before that step, the basis for which the mortgage financing information are as follows:

  • Rates are subject to change at any time.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Rate locks are available at current terms for 30 to 180 days based on program type, credit profile, property location, etc. which will affect the available rate and term.
  • Payments will vary based on program selection, current rates, property location, etc.
  • Not all programs are available in all states.
  • Some loan programs may not be available to first time home buyers.
  • Terms and conditions apply, which may include restrictions or limits per loan program.
  • Information is generally based on primary residence occupancy with no cash out when refinancing.
  • Unless otherwise stated, terms shown are estimates based in part on credit score of 700 or higher; owner occupancy, escrow account is established for taxes and insurance(s); debt-to-income ratio no higher than 43.0%; PMI applies to conventional loan programs over 80.0% LTV; VA,FHA & RD require insuring fees included in loan and/or payment; fixed rate, 30 year term.

An MIG Loan Officer is available to help with your financial details to determine which characteristics apply to your situation for a personalized look into which loan program best fits your home financing needs. Please use the Find a Loan Officer link or reach out to Mortgage Investors Group at 800-489-8910. Equal Housing Lender 1.2020