Possible to buy/close on a house within 30 days?

[Drakkon]

I gotta move outta my apt by end of december, and rather than spend another year hear I'd kinda like to look into buying a house since i have a fair ammount saved up to take on such an endevor. The problem is lease is up in december and I can either do a 3, 6, 9, or 12 month lease or just try and get outta this place permanently which i would really like to do.

Is it possible to do it within 30 days? I'm sure around the holidays probobly not since ive literally started nothing except reading up on what it takes, talking to friends about realtors, and driving around areas that i can afford. I can do a 3 month lease and probobly accomplish in that ammount of time right?

 

[Freejack2]

I can't say wether it's possible or not but I can tell you DO NOT try to find a house by then. You need to be absolutely sure what you get you're happy with. I bet if you do manage to do this, 6 months from now you'll be going if I only knew then what I knew now...
Take another 3 month lease at minimum. Everyone I know has spent months and months looking for a house.

 

[spidey07]

I guess you could. That fact that holiday's are coming up might make it impossible.


The bigger question is should you.

 

[KevinH]

As a mortgage broker I can say that you can without a doubt. Whether or not you should is a whole 'nother matter. I can't imagine dropping several hundred thousand on anything and giving yourself only 1-2 weeks to look around.

 

[badmouse]

Possible? Yes. But why would you want to? It's not like buying a new shirt. You might want to do some research, etc.

 

[Mo0o]

This is kind of a big decision to be rushing in to

 

[Theguynextdoor]

Yes. We did it in our house. We found it. And placed a bid on it it. Won it the next day but had 45 days to close on it. We closed in 23 days.

 

[flot]

It's possible, but not likely. Thanksgiving and Christmas are your big enemies, since most people take some chunk of vacation around that time of year. Plus no one works quite as hard. (hey, it's true)

However, like everyone else said... don't do anything stupid. Extending your lease 3 months would give you a good 30-45 days of searching for a house, another 30-45 days to close, and then finally a week to a few weeks to paint the place, take care of any work that needed to be done, etc. 3 Months is about right.