How long does a mail away closing take
The time it takes for a mail-away closing to be processed and completed can vary depending on several factors, including the type of closing, the complexity of the transaction, and the workload of the title company or escrow company handling the closing.
On average, a mail-away closing can take anywhere from a few days to several weeks to complete. Here are some general guidelines:
- Simple mail-away closings: 3-5 business days - These types of closings typically involve a straightforward transfer of ownership, with no liens or encumbrances on the property. The title company or escrow company can usually process these closings quickly, often within 3-5 business days.
- Standard mail-away closings: 5-10 business days - These closings may involve some additional steps, such as verifying the identity of the parties involved, checking for any outstanding liens or encumbrances, and ensuring that all necessary documents are in order. The processing time for these closings can take around 5-10 business days.
- Complex mail-away closings: 10-20 business days or more - These closings may involve more complex issues, such as multiple parties involved, multiple properties being transferred, or complex financial transactions. The processing time for these closings can take significantly longer, often 10-20 business days or more.
It's important to note that these are general guidelines, and the actual processing time for a mail-away closing can vary depending on the specific circumstances of the transaction. It's always a good idea to check with the title company or escrow company handling the closing to get a more accurate estimate of the processing time.