05 Jan 2022
How Long Does It Take to Receive My Money After Selling My House?
To a vendor, the most important part of selling their home is receiving the funds. Selling a home is a process. Most vendors receive money after selling my home one to three months post-sale.
Once you find a buyer, you and the buyer sign the contracts, go through the cooling-off period, and finish with the settlement period. Statistics show that less than 5% of real estate deals fall through. If you pick the right homebuyer, you should see your money; it just takes up to three months for the transaction to finalise.
A homebuyer receives the right to hire an inspector. The inspector searches for major structural faults in the property. This allows the buyer to renegotiate the asking price. More importantly, the home buyer’s lender appraises the property. They do this to ensure that they fund the correct amount.
After the cooling-off and settlement period, the funds transfer from the buyer’s lending institution to the home seller’s account. The funds transfer after both parties sign the sale contracts. In addition, the property clears the title search, and the lender approves the homebuyer’s mortgage application.
Homebuyers and sellers who become clients of Mortgage House receive access to additional loan products such as the business loan.
Receive Money After Selling My Home Conclusion
It takes between 30 to 90 days to receive money after selling my home. A lot of paperwork exchanges hands before the transaction becomes official. Mortgage House works with home buyers and home sellers. Obtain more information about financing by getting in touch with our loan specialists.