House Flipping Loans Option period Renovation 
HomeLight
MARCH 13, 2023
The buyer does due diligence during the option period in California, which is typically one to 10 days. Although there are no required disclosures because the property is being sold as-is, there is an inspection period. According to data from Ellie Mae, purchase loans take an average of 50 days to close.
HomeLight
MARCH 13, 2023
Competition from house-flip companies. They may want to avoid the 6% interest rate of a loan by buying with cash. Flexible closing date: While closing typically takes place faster with a cash buyer than with a traditional loan-backed sale, Speed points out that sellers may need to wait a little longer before closing.
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