It’s a seller’s market, so that means that you can sell your house andmove in record time, right?
Not so fast. USRealty.com customers are telling us that correctly-priced houses are selling in just a couple of weeks – often, in just a couple of days.
But it’s a long slow slog to closing, and it’s not getting any faster.
At a recent industry conference, industry professionals discussed thefriction in the system: it now takes about 10 weeks from contract to closing.
Appraisals are one monkey wrench in the process. In the wake of the recession, more regulations and government reports have been layered into appraisals. As well, more buyers are using FHA loans, which require additional signoffs, inspections and approvals.
One solution: check your own housing records, credit report and the legal system before listing your house. Finding and clearing up complications like liens will at least streamline your side of the process.