Redfin

AUGUST 6, 2025

In this Redfin article, find out how long it takes to buy a house based on the three most common scenarios – a cash offer, a mortgage, and a short sale. Since there isn’t a mortgage involved, the seller will be required to request proof of funds and earnest money. How long does it take to buy a short sale property?

Pre-approval

HomeLight

NOVEMBER 1, 2021

The appraisal helps ensure that the mortgage company doesn’t lend more than the property is worth. A third-party appraiser determines the value based on the size and condition of your home, any upgrades or improvements you’ve made, and the final sales price of comparable homes ( comps ) in your area. Your home is overpriced.

Purchase and sale agreement

Marco Santarelli

AUGUST 16, 2024

Factor in down payment, closing costs, renovation expenses, and a reserve fund for unexpected repairs. Explore financing options: Research mortgages, hard money loans, and private lending options. Check Our Inventory of Turnkey Rental Properties For Sale 2.2. Shop around for competitive interest rates and loan terms.

Due diligence

The Close

DECEMBER 29, 2022

This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. In a no-cost mortgage, the lending institution pays all of the closing costs in exchange for the borrower paying a higher interest rate. Proof of funds. These funds must be liquid, not stocks or bonds.

Purchase and sale agreement