Why does it take 45-60 days to close on a home? Obtaining a loan on a property takes time. The lender collects information from the buyer like proof of income/employment, rental history, assets, and bank statements. They order an appraisal and get the results from that. They order title work from the title company. They then will underwrite the loan to make sure all information provided is acceptable. Buyer must submit insurance proof to the lender as one of the last steps. Then loan package is sent to the buyer to review. Lastly, the loan package is signed at closing. The whole process takes about 45-60 days. If buyer is paying cash then the closing can be as early as 1 week after an accepted contract. If it is a foreclosure, most banks will ask for at least 30 days to close in case any title issues come up. Let me know if you have questions about any part of purchasing a home. I am happy to help!