How Long Does it Take from Getting an Offer Accepted to Closing?
One of the most frequently asked questions I get from buyers is how long it takes from the point of getting their offer accepted to the point of closing. And what they usually trying to figure out is how far out they should 
be scheduling settlement when writing an offer. After all, offers for the purchase of real estate must have a settlement date.
Generally, if the sellers are able to accommodate it, a buyer can get their inspections and appraisal done, and financing wrapped up, in thirty days...forty-five at the outside. Sometimes you do run into scenarios where sellers need additional time in the home so settlement can end up delayed to a preferred date of the seller's choice. And if you are working with a Short Sale, that thirty days generally won't start until AFTER the seller has delivered Short Sale Approval. And getting to that point can take a minimum of two months.
Foreclosures are scenarios where you should plan forty-five or sixty days out. Asset Managers, who work on behalf of the bank as the Seller, are not the most responsive people in the world. Just getting a contract ratified can take two weeks, so adding extra time for settlement when writing the offer is helpful.
The good news is that if everything on the buyer's end wraps up soon enough, and the seller is able to oblige, settlement can be moved up. The Northern Virginia Sales Contract says that settlement will occur "on or before" the specified date.
Always consult with your Buyer's Agent to figure out the best timing for settlement when writing your purchase offer.
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