BIC TIP #1102: Verify Closing Timelines With the Lender

Everyone loves the idea of a quick closing, but speed means nothing if the timeline is unrealistic. One of the most common mistakes agents make is selecting a closing date without first confirming whether the lender can actually meet it. This creates unnecessary pressure, unhappy clients, frustrated attorneys, and last-minute contract extensions that could have been avoided.

Before you write the offer, always reach out to the lender and ask for a realistic estimate of the time needed to process the loan. This includes the appraisal, underwriting, verification steps, and closing disclosures. The lender will tell you what is possible based on the buyer’s file, the loan type, and current pipeline volume.

Your buyer is counting on you to set an achievable closing date. A contract built on a rushed or incorrect timeline sets the entire transaction up for stress and disappointment. Instead, communicate early, confirm the details, and choose a closing date that gives all parties the time they need.

Proper planning protects your clients, strengthens relationships with lenders and attorneys, and ensures a smoother contract-to-close process for everyone involved.