How long does it take to buy a Boston condo?
Normally, the average time to complete the sale of a Boston condo is 45 days. Though, well-prepared Boston condo buyers have been known to purchase properties faster than the averages.Especially, if you’re are paying in cash.
Market conditions
Market conditions are a major factor in how quickly you can buy a Boston condo. In hot markets with a lot of sales activity, buying a home may take a little longer than normal. That’s because several parties involved in the transaction get behind when business suddenly picks up. For example, a spike in home sales increases the demand for property appraisals and home inspections, yet there will be no increase in the number of appraisers and inspectors available to do the work. Lender turn-around times for loan underwriting can also slow down. If each party involved in a deal takes a day or two longer to get their work done, the entire process gets extended.
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