How long does it take from pre-approval of the mortgage credit to the deed signing?
The process can take 4 to 12 weeks. Learn what influences the timeline and how to avoid delays.
From pre-approval to closing: How long can I expect to wait?
If you have already obtained pre-approval for housing credit, the next step is the completion of the purchase of the property and signing the deed.
But how long does this process take? The answer depends on several factors, but on average, it can take between 4 and 12 weeks.
Property evaluation (1 to 2 weeks)
After pre-approval, the bank needs to ensure that the property has the appropriate value for the requested mortgage credit.
To do this, schedule a bank evaluation, a process that can take about one to two weeks, depending on the availability of the evaluators and the delay time of their responses.
Find out here: What is the impact of property valuation?
Final credit approval (1 to 3 weeks)
Based on the property evaluation, the bank analyzes all documents and gives final approval for credit. If everything is in order, the credit contract will be drafted. This step can take one to three weeks, depending on the complexity of the process.
3. Draft issuance and deed scheduling (1 to 2 weeks)
After final approval, the bank issues the draft contract and coordinates with the buyer, seller, and notary office to schedule the signing of the deed. The speed of this step depends on the availability of the notary and the obtaining of documents, which may take another one to two weeks.
Read more: Buying a house: What should I know about the deed?
Possible delays
It is necessary to take into account that some situations may delay the process, such as: - Errors or lack of documents; - Problems with previous records or mortgages; - Notary office schedule; - Need for approval from external entities (for example, if the property has a special ownership regime).
How to speed up the process?
To avoid delays and ensure that the deed takes place as quickly as possible, you must gather all necessary documents in advance, maintain frequent contact with the bank, seller, and notary, and also ensure that the property does not have irregularities or pending registrations.
If you have an credit intermediary from Poupança no Minuto by your side, the process can be expedited, with a specialized agent handling the resolution of potential challenges and all the bureaucracy for you! Find the best offer on the market with our help, in a close and fast process, simulate now here: