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Rainmaker
1,052,121
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

This same vague question was asked a few days back.

Define execution. Because your question doesn't make sense as asked using "execution", do you mean ratify or get accepted?

  • To get a buyer to the point of wanting to draft one?
  • To draft one?
  • To draft and submit?
  • To draft, submit and negotiate?
  • To draft, submit and negotiate and RATIFY?
  • To draft, submit and negotiate and RATIFY and close?
Jul 22, 2020 06:35 PM
Rainmaker
2,887,671
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Define "execution".

Communication is key.  

Jul 23, 2020 08:32 AM
Rainmaker
787,986
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

First...we must agree on what "execute" means. The definition below was taken off on the internet:

Definition of Execute

Noun

1.    To complete, and give effect or validity to, a legal document, decree, law, or judicial sentence.

2.    Fulfilling legal requirements of a contract or other instrument by signing or sealing.



So...you can see that, once a contract is written, it can take only a short time to "execute" the contract.

Yet, I do not think what you wrote is really what you want to ask.

If you are asking how long it take to complete a real estate transaction, that is not a questions that can be precisely answered.

Some transactions, as in a cash purchase, can move to close in days.

Others, due to inspections, negotiations, financing, escrow processing and other possible delays can easily take 30 days or, in some cases, much longer.

Many contracts are written with a close of approximate 30 days in mind and work out satisfactorily.

Jul 23, 2020 08:06 AM
Rainmaker
893,234
Diana Zaccaro
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

 Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets took the words right out of my mouth.

Jul 22, 2020 08:12 PM
Rainmaker
3,644,275
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Thomas J. Nelson has set out the guidelines for consideration.

Jul 23, 2020 07:24 AM
Rainmaker
822,650
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Offers can and often are received within 3 days of placement in the MLS.
Listing agent and owner engage in a choreographed dance for 3 more days and both parties reach agreement, with only the contingencies to contend with.  
Two weeks later the inspection, repairs and appraisal are completed, contingencies satisfied.
The lender takes any where from 5 days to 5 weeks to do their dance.
Now you need to apply your definition of 'execution' to the above scenario and you come up with "it depends."

A good swag for time to closing would be 5 weeks VA, 4 weeks FHA, 3 weeks conventional, 2 weeks cash. Isn't that the real question?

Jul 23, 2020 06:25 AM
Rainmaker
1,619,880
Lyn Sims
RE/MAX Suburban - Schaumburg, IL
Schaumburg Real Estate

It depends on how professional the LA & BA are I think. The BA's have to hussle a little bit faster in this market in my area to beat out other buyers.

I'm actually going to say 3 days with negotiation. 

Jul 23, 2020 05:54 AM
Rainmaker
2,558,850
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

You have multiple-players involved all working within their own time dimensions but wanting to perform for end results sake. The incentive? We all get paid at the end of the transactions. Then, there is the customer servicing of the main players i.e. seller and buyer which is primary. Weekends, holidays, close of business and voice mail hinder what should and could take 30-45 days give or take

Jul 23, 2020 06:31 AM
Rainmaker
813,434
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Yeah we've had this one before.

Different areas have different ways to define 'execution'.

In my area it's fully executed when it's signed by all parties with consideration and delivery.
In many other areas the above is 'ratification' not execution and 'execution' comes when it's closed.

So let's say you mean 'how long do transactions typically take' and the answer is 'there's no typical' ESPECIALLY in commercial.

I've had transactions close within days and I have one right now with a 6 month timeline. . . we've all had short sales that took more than a year to close. A regional medical center in my area had a 3 year escrow not far back.

Jul 23, 2020 06:12 AM
Rainmaker
5,893,769
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Execution only takes moments as the agreement is signed.

Jul 25, 2020 06:37 PM
Rainmaker
4,930,672
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

David,

It depends on many factors, and Thomas J. Nelson, Realtor e-Pro, CRS, RCS-D, Vets has given you an excellent answer. A

Jul 23, 2020 03:34 PM