If you’re buying a home with the intention of fixing it up and selling it, whether you’ve already gotten a hard money loan or not, you probably want to know how long the whole process will take. Unfortunately, there’s no one-size-fits-all answer to that question – but here’s an estimate of how long it takes to flip a house.
How Long Does It Take to Flip a House?
Let’s say that it takes you between 5 and 10 days to secure financing (we can fund loans in a matter of days in some cases). That’s assuming the seller can go ahead with the sale and you’re not buying a short sale, which typically takes a lot longer to process.
From there, the condition of the house determines how long it takes to remodel. Some people can get it done in a week, with the right crew, but it could take a few months if you encounter surprises or you’re having issues with contractors.
When it’s time to sell, that varies, too. With the right real estate agent on your team, and the right marketing plan, you may be able to sell very quickly. You’ll still have to wait for the deal to close (you’ll most likely be waiting on the buyer’s lender and working on the bank’s timetable), which can take between 21 and 45 days.
Are You Looking for a Hard Money Loan to Buy a Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding in Tennessee, Georgia or Florida. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.
Read our frequently asked questions and take a few minutes to learn about the hard money loan process.