Fred Griffin Florida Real Estate, Licensed Florida Real Estate Broker (Fred Griffin Real Estate)

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Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Current "standard" in the California Residential Purchase Agreement:

3 days for loan application

21 days to remove loan contingency

17 days to remove appraisal contingency

In reality(if a buyer wants to be considered "serious"):

Loan pre-approval letter and proof of funds accompany the offer

The number of days for both loan/appraisal contingency is greatly reduced or eliminated a majority of the time in our current sellers' market. Location and market conditions make a difference


Sep 25, 2017 08:28 AM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Parked and reading.

Sep 25, 2017 06:56 PM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I echo what Michael Jacobs said. No need to type it all out again 

Sep 25, 2017 01:47 PM
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

Borrower 1 day for application ( they should already have turned in every piece of homework BEFORE making the offer and an Underwriter should have looked at the file BEFORE making the offer) 7 days for Conditional Approval. 10 Days for Final Approval no conditions other than: notarized signatures, proof of wire cleared bank, and the creek 'don't rise. California Coastal is aggressively competitive, need buyer who is on their honor not napping and lender who can deliver every time - or seller waits for all cash deal

Sep 25, 2017 10:35 AM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The AZ PQ form filled out by lender and signed by buyer needs to ACCOMPANY the offer. Then, the LSU (loan status update) needs to be provided within 10 days of RPC Contract execution. The full approval without conditions ? 3 days prior to COE. 
I think ALL conditions need to be cleared during Buyer's Inspection Period if at all possible. Appraisal can hose that, however. They take a couple of weeks, and our boilerplate IP is 10 days. Also, title has been slower with prelims, although they usually can get them to us within a week.

Sep 25, 2017 07:07 AM
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

It depends on the type of loan and when my buyer, i ask the lian officer how much time they need. It can be 30 days for convention and 45 for va or fha. Closing in 35 to 50 days

Sep 26, 2017 05:37 AM
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Candice A. Donofrio nailed this one!

Sep 26, 2017 05:33 AM
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Our forms say within 5 days and that is plenty of time to get an appointment and get it done.

Sep 25, 2017 02:31 PM
Sandy Padula & Norm Padula, JD, GRI
HomeSmart Realty West & Florida Realty Investments - , CA
Presence, Persistence & Perseverance

As Michael Jacobs wrote

Sep 25, 2017 12:17 PM
Evelyn M Epperson
Coldwell Banker Residential Brokerage - Johns Creek, GA
A Tradition Of [Excellence, Trust & Service]

Our form does not have allowed days for either.  I like 3 days for Application and 30 for their financing to be approved and 21 days for appraisal to be complete.

Sep 25, 2017 09:39 AM
William Feela
Realtor, Whispering Pines Realty 651-674-5999 No.

ON our contracts when my seller gets the offer we require the interest rate to be locked 5 days after the PA is signed.

Sep 25, 2017 09:26 AM
Roy Kelley
Retired - Gaithersburg, MD

Thanks for sharing your form. I prefer to have approval before submitting a contract.

Sep 25, 2017 08:16 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

1-3 days for loan application, and around 3 days for loan objection.

Sep 27, 2017 06:56 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Being in FL it's the same as yours, but I prefer 45 days when financing is involved.  Longer, if there may be some issues with the type of loan.  (USDA for example)

Sep 26, 2017 05:53 AM
Becca Rasmussen
HomeSmart Cherry Creek - Highlands Ranch, CO

On a personal note, it took us nearly two months to get final approval on a straight-up easy-peasey refinance this summer. Started the process the end of July and finally closed yesterday.

So I'd be leary of putting in less than 60 days (and they said it could take up to 90. 90!) for approval if the client weren't pre-approved. Right now in our market, though, I'm pretty sure an offer wouldn't be easily accepted if someone weren't already approved. 

Sep 26, 2017 05:39 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I fill it out so buyers will remember what they agreed to do.

Sep 26, 2017 04:44 AM
Nathan Gesner
American West Realty and Management - Cody, WY
Broker / Property Manager

We want a preapproval letter with the earnest money within 24 hours of acceptance. Loan contingency removed 14 days after acceptance.

Sep 26, 2017 04:41 AM
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I do not present or present offers that are not PAed and with POF. The PA should be attached. 

Sep 26, 2017 12:34 AM
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Fred Griffin - we have 7-10 days for a home inspection as well as a completed loan application. About 3 weeks to remove mortgage contingency - or 2 weeks prior to close, whichever is later.

Sep 25, 2017 10:36 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Our contracts are not dependent on financing contingency. We have a due diligence contract where the time frame is negotiated for all aspects of due diligence--inspections, appraisals, etc. These days I'm seeing 21-25 day due diligence periods. The majority of my contracts are closed within 30-35 days.

Sep 25, 2017 10:30 PM
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

On mine I give them two weeks to secure financing, and the offer is not accepted without a preapproval.

Sep 25, 2017 08:44 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy


Michael Jacobs has the answer for CA

Sep 25, 2017 02:18 PM
Jennifer Mackay
Counts Real Estate Group, Inc. - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Same as yours Fred Griffin lol

Sep 25, 2017 12:37 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

5 days is in our contract but of course true approval doesn't come until final underwriting. It is more to make sure you started the process.

Sep 25, 2017 11:52 AM
JoAnn Moore
The Mortgage Market of Delaware - Georgetown, DE
Home Loans in Delaware

2 weeks from ratified contract for commitment letter and 5 days to make application.

Sep 25, 2017 10:55 AM
Ryan Huggins - Thousand Oaks, CA - Thousand Oaks, CA
Residential Real Estate and Investment Properties

21 days for loan contingencies.  I try to shorten it when I can.

Sep 25, 2017 10:47 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker

We have no requirement regarding submission of load app.  We have a negotiated number of days go get credit approval, loan approval can go all the way to closing day.

Sep 25, 2017 09:03 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

30 days for financing....

Sep 25, 2017 09:02 AM
Bob Betel
Allstar Home Mortgage, Inc. - Sweetwater, TN
President, Allstar Home Mortgage, Inc

I always prefer 45 days, but 30 days is ok. The mortgage application, if you use 5 days, then add that to the 30-45 day mortgage times.

Sep 25, 2017 08:31 AM
Erika Rae Albert, Austin Real Estate Expert
E-Rae Realty - Austin, TX
Exceeding Expectations in Every Transaction

It's fill in the blank in TX too.  We have two sections one is for buyer approval and the other is for property approval.  In an ideal world, I want my buyer 100% approved for a given loan prior to writing an offer so I can put in a 0 in that blank. However, if the lender had not fully verified my client's financials, I ask them how long they need to do so, and that number of days is entered (it's never more than 14).

Sep 25, 2017 08:05 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

I think today 45 days to get financing is appropriate and making application within 5 days is OK!

Sep 25, 2017 07:12 AM