Do you know what's busier than a vacuum in a dirt factory?
This is historically the busiest time of the year for Nashville real estate sales.
When you add a few years of pent up activity to the mix, it overloads the businesses that service the real estate industry. This results in longer than average wait times for appraisers, home inspectors and contractors.
Just because we can likely find a buyer for your home quickly, we can’t always move that fast to the closing table.
It wasn’t that long ago that we could get an inspector out to a home in just a few days which gave us plenty of time to negotiate any repairs and make plans to have them completed. The average wait time for home inspectors today is in the range of 7 – 10 days.
That doesn’t seem too drastic until you consider that the average wait time for a contractor is 1 – 2 weeks. And when you add the two together, it has us knocking on the door of the standard time to close a loan in this area, 30 days.
When you add a wrinkle or two to the mix (there are always a few wrinkles), it is easy to blow right by that 30 day window.
Who wants to be late to a closing?
To add fuel to the fire, in some areas of Middle Tennessee we are seeing the wait time for appraisals to be more than two weeks. And in some parts of the U.S., they are facing up to four weeks from the time an appraisal is ordered until the report is delivered.
If the appraiser requires additional repairs, it can stretch out the process longer.
Getting an early start on your home sale has always been good advice.
And it’s now even more important.
Are you wondering when you should start getting ready? Give us a call and we will walk you through the process and give you advice specific to your home.