Buying Tips #6 Settlement Date

One of the important things that the vendor needs to know is when you want to move in. It’s known as a settlement period and here’s the deal: settlements do not have to come in chunks of 30 days. Typically, with a real estate transaction, you make the decision to buy and in 60 days you move in. That’s fairly common – about the average timeframe – but it doesn’t have to be 30, 60, 90 or 120 days.

You can go to your calendar and work out which date works best for you. It might be 46 days – or 93 days. Exactly when is irrelevant, but you do need a date. Your date could depend on finances, family circumstances or the timing of a big move (to a different town or state).

When giving the offer to your estate agent to pass on to the owners of the home, it’s crucial to negotiate a date you’d like them out and you in. But please understand, it doesn’t have to be chunks of 30 days.

See what works for you. The agent will worry about what works for the owners and you will find some happy common ground. It’s okay to have a unique settlement date so check your calendar and feel free to think outside the square.