how many days in average to close a housing deal in houston area

In addition to the other responses, some agents are not diligent about closing out their listings in the MLS after the sale is complete and funded. In just the last month I have had to remindtwo listing agents to please close out the listing for my buyers, 2, 3 and even 5 days after we have closed! So some of the properties you are seeing in PS or P have already closed and the agent needs to follow up and put it into SOLD status in the MLS.

Every closing is different, but you have got to expect that a closing involving financing even if there are no real issues may take 45 days.

Robert,

There are a variety of factors that relate to the property status you see online.

1) Averages days to close a financed buyer 30-45 days.
2) Contracts are extended for a variety of reasons (lender delays, title issues, repairs, current situation of buyer or seller, etc.)
3) The date a realtor puts in for the closing date is subject to change
4) It is up to the realtor to put the date the property closes in the MLS. Since this is dependent on each realtor, there may in a delay in putting this in the system.
5) Realtors change the contract status of properties once they go under contract Option Pending, Pending Continue to Show, and Pending).

The different pending options are as follows:

OP: Option Pending - The sellers have accepted a contract. This period is the time the buyers continue their due diligence and complete inspections. The buyer pays for this option period and in return has the unrestricted right to terminate at any time for any reason. Any repair amendments should also take place within this period. I watch properties very closely in the option period.. sometimes you see them go back active pretty quickly due to buyer change of heart.

PS: Pending continue to Show - For reasons determined by the seller, they have continued to show the home although a contract has been accepted and through the option period. Sellers may choose to keep showing the home if there is a contingency or while waiting for final financing approval as determined in the Third Party Financing Addendum.

P: Pending - Option period complete, contract is waiting to close. No showings will be allowed through CSS. Usually agents will put it as Pending status when the buyer is through their financing contingency period (if they have one). This is a seller decision. I always ask my seller if they want to remain Pending Continue to Show up until the property closes so the property can potentially still be shown.

Hope this helps!!
Feel free to reach out if you have any additional questions.

Darby Grimmett
Keller Williams Realty
darby@darbygrimmett.com
936-827-9217

Also, a Realtor has access to the anticipated closing dates and it's much easier for them to find out what is going on in each transaction in case you wanted to make a back up offer. OP - Means they are in the option period and can back out for any reason - PS - Typically means they are considering back up offers - Pending - On it's way to closing unless financing or something else kills the deal. Great deals go under contact quick that Is why it's so imperative to seek consultation from a Realtor.

Hi Robert,

The number of days to close is completely negotiable. If the buyers are financing they may want or need 45 days. Also, if a seller did not anticipate selling quickly they may need longer to close if they need to find their new home.

I hope this is helpful!

Dori Lacamu, ABR, CNE, SMP
Broker Associate
Keller Williams Metropolitan
5050 Westheimer, Suite 200
Houston, TX 77056
Direct: (281) 788-0495
Office: (713) 621-8001
Dori@DoriLacamu.com
www.DoriLacamu.com