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Gold Contributor
TrabucoDom
Posts: 1,584
Registered: ‎01-05-2008
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Can all-cash close in a week?

I saw a house listed recently. After 2 weeks it went pending. Then 6 days later the mls shows as "closed"'. So I am guessing it was a cash buyer. Is it really possible to close in only 6 days? Or maybe it was pending earlier than what was shown?

Super Contributor
n00b
Posts: 253
Registered: ‎07-23-2008
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Re: Can all-cash close in a week?


TrabucoDom wrote:

I saw a house listed recently. After 2 weeks it went pending. Then 6 days later the mls shows as "closed"'. So I am guessing it was a cash buyer. Is it really possible to close in only 6 days? Or maybe it was pending earlier than what was shown?


Absolutely. I closed one house in five days. However, it's possible to enter escrow before the agent switches to pending status.

 

Gold Regular Contributor
sheriff
Posts: 2,291
Registered: ‎06-01-2012
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Re: Can all-cash close in a week?

[ Edited ]

I think you could actually close in one day.  Meet at an escrow office, take a chance on not getting title insurance, bring a notary with you.  when you buy a foreclosure on the courthouse steps it is a one day transaction.

Regular Contributor
fourpheb
Posts: 95
Registered: ‎12-21-2012
0

Re: Can all-cash close in a week?

[ Edited ]

We closed twelve days from the day we made the offer, ten days from the day the offer was accepted by the bank, and one day before the property went to auction.

 

Yes, it was all cash.