Alta Realty Group Ca, Inc
Jeff Kraus, Alta Realty Group Ca, IncPhone: (949) 246-0456
Email: jeff@krausre.com

How long does it take to buy a house: 2 Things that can delay closing

by Jeff Kraus 02/17/2025

When facing such a long and complicated process, many would-be homeowners are left to wonder: how long does it take to buy a house? While it’s possible to estimate the amount of time needed for various steps, there are several factors that can delay the home buying process and create an even longer wait.

To help you prepare for any potential issues, here are two of the most common reasons closing on a home is delayed:

Loan approval falls through at the last minute

The mortgage process is a long one in itself, and even with a significant down payment, it can delay your purchase if your approval falls through. One of the most common reasons homebuyers have closing day finance issues is they didn’t get full preapproval from a mortgage lender before making an offer.

The other common scenario is a major financial change has caused a mortgage lender to rescind their approval. This can happen if, for example, a buyer takes on a significant amount of credit card debt right before they buy a house.

The best way to avoid delays caused by financing is to get full mortgage preapproval from a lender before making an offer, and to avoid any behavior that could adversely affect your credit report before the closing process is complete.

Home inspection reveals serious issues

The home inspection is another potential cause of delay when buying a house. Most purchase contracts include a clause requiring a professional inspection of the property to identify any major issues. If the inspection comes back with bad news, the buyer can either walk away from the sale or make an agreement with the seller about how to solve the problem.

Unfortunately, inspection reports are not always perfect. However, clarifying seller concessions and being flexible with negotiation can help you mitigate potential delays caused by unpleasant surprises. Investigate what repairs the seller is willing to make or include in closing costs beforehand.

These are only a couple of reasons it may take a longer time to buy a house. While every step of the process has potential for delay, the more you know about your options, the better you’ll be able to handle them if they arise.

About the Author
Author

Jeff Kraus

A Realtor ® since 2010, I have earned a reputation for superior service and professionalism.

I base my business and relationships around a community that requires an expert who can represent them in transactions and deliver results with precision and within a timely fashion. I make it a priority to communicate throughout the buying and selling process making the transaction as transparent and smooth as possible.

I’m a member of the Orange County Association of Realtors, the California Association of Realtors and The National Association of Realtors.

It’s my pleasure to assist you!

Cell: 949-246-0456

Fax: 714-545-2878

Email: jeff@krausre.com

CA DRE: 01881012

BROKER CA DRE: 02025297