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| How Long to close? The closing process is pretty standard throughout the industry, many people however tell you they can close in a week. What they don't tell you that they can close in a week if they have a full package. A full package entails the underwriter having all of your paperwork as well as all the appraisal, title, and insurance info. The lender has to order the appraisal, title, and insurance and many times rushing this process causes the deal to fail. We typically quote to our customers that we can close a deal 2 weeks after the lender receives your paperwork and the appraisal. Generally we can get the appraisal and have your paperwork returned within a week of ordering it. This means that a deal can conceivably be done in 3 weeks if everything falls perfectly in place. We know and understand that we cannot always count on everything falling perfectly in place and therefore we quote our clients a 4 week close.
Author of this article is Danny Garcia, this and other articles related to real estate investing and real estate investing mortgage loans can be found at www.RealEstateInvestorLoan.com
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