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How Soon Can We Close After an Auction or Purchase Agreement?

Top 50 Questions about Farmland

The typical timeframe to close on a farmland transaction is around 45 days, but this can vary depending on the specifics of the deal.

Factors Affecting Closing Time

  1. Cash Transactions:

    • Cash deals tend to close faster since they don’t involve lender approval processes.
    • Closing can occur in as little as 30 days.

  2. Financed Transactions:

    • If the buyer is using a lender, the timeline may extend due to loan approval, appraisals, and title reviews.
    • Expect closer to 45–60 days.

  3. Other Considerations:

    • The involvement of multiple attorneys or title companies.
    • Any outstanding issues with property title or documentation.

Key Takeaways

  1. Standard closing timeline: Approximately 45 days after signing the purchase agreement.
  2. Cash transactions: Often faster, taking around 30 days.
  3. Financed transactions: May take closer to 45–60 days due to additional steps.

For a seamless closing process, trust David Whitaker – Iowa Land Guy to guide you every step of the way! David Whitaker | Iowa Land Guy