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| Eugene Vigoa, Esq. |
Sellers usually want to close as soon as possible, and buyers want as much time as they need. A good compromise is to close within 30-45 days depending if the buyer will finance the purchase or not. If the sale is as cash transaction, then 30 days should be sufficient time to close. If the buyer needs more time, the seller can always agree to an extension. If the buyer is going to finance the purchase, then 45 days is a reasonable compromise; however some lenders may take longer to finalize the loan.
It is difficult to guess at the time the contract is signed how long will it take to close the transaction, for that reason, both parties should remain flexible.