In Charlotte, How long does it take to close on a home?|Ask the Broker|FAQ

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Red House Question Mark?

Answers from Terry McDonald, Charlotte North Carolina Broker

The short answer? It is the time it takes to secure and close a loan. Cash customers could close in a couple of days, if they weren’t concerned about inspections. Typically, loans close in 30-40 days, near the end of the month. WE can and do negotiate different closing dates when the need arises. Generally we don’t have the title issues that make some states take longer to close (New York for example)

Buyer Agent Negotiating Point

We always ask what is the sellers preferred closing date. The closing date can be a negotiating point depending on the buyer’s or seller needs. In a best case negotiating scenario, the buyer has no home to sell, has secured their financing with pre-approval, and could close in 2 weeks or 3 months, without a strong preference. In this scenario, we would ask the Seller Agent when the Seller’s preferred closing date would be and if we, the Buyer side can meet their preferred closing date, we often can get an additional price concession for the convenience. This is frequently used in early spring, when a house is on the market, but kids are still in school, and the sellers would prefer to stay there until the end of June. Logically, if we make the sellers move now, we would likely have to offer more than if we were willing to close at the end of June-

Seller Negotiating Point- Ideally, the seller is flexible and can leave in 2 weeks or 3 months, and then a good Seller Agent (Listing Agent) should ask the Buyer preference, and may be able to negotiate a higher price for their Seller.

The extreme case is a Foreclosure, when the need for immediate closing drives the price down.

Terry McDonald

Terry McDonald

I am the owner and operator of and was inspired to create this website when I moved my young family of 6 down to Charlotte from the northeast, now over 20 years ago. Charlotte quickly became home to us and I wanted to create a website that would help individuals and families considering a move to Charlotte. I'm also the owner of The McDonald Group at eXp Realty (my day job) and have helped hundreds of folks relocate to Charlotte over the years.

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So everybody’s heard that Atlanta calls itself the “capitol” of the New South. Ok, I’ll give them that. But if Atlanta is the “capitol”, then Charlotte is the heart of the New South. Charlotte is the 20th largest city

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