Buying a home in Amarillo can be a simple process or buying a home can be a long complicated process. The amount of time it takes to buy a house depends greatly on how long it takes to find the perfect one and perform the inspections or necessary repairs. The number of days it takes to buy a home in Amarillo also depends on financing. Paying cash speeds up this process considerably.
Finding the perfect home in Amarillo
Depending on the number of available homes for sale in your price range and desired neighborhood, it could take some time to weed through listings. Also, if it is a seller’s market and not many homes are for sale, you could find yourself between a rock and a hard place. This situation will leave you deciding between a more expensive house or one outside of your desired neighborhood.
Inspections and repairs of the house
The amount of time it takes to buy a house in Amarillo greatly depends on the inspection and repairs that need to be done prior to closing. If the roof needs to be replaced, or if the HVAC components need to be replaced prior to closing, significant delays can occur. It takes time to find qualified contractors, get quotes, and for all parties to agree to the costs involved. Then, parts and supplies have to be ordered and finally work on the house can begin. Depending on what needs to be repaired and who’s paying for it, this part of the process could delay closing on a home by weeks.
Paying cash or financing the home
Paying cash for your house is a great way to speed up the amount of time it takes to close a deal. Amarillo home buyers who pay cash do not have to wade through nearly the amount of paperwork as someone who is mortgaging the house. Cash buyers who do not have repairs to worry about can sometimes close in as little as 15 days. However, buyers that choose to finance their new home will end up having to wait longer in some cases. There are certain requirements that must be met before financing will be approved and the time it takes varies from case to case.
If you have questions about any of our services at Elite Real Estate Group in Amarillo or simply desire additional information, call us today at (806) 337-0883. You can also connect with us via email by clicking on Contact Us. Be sure to view our listings of available homes in the Texas Panhandle area.