How long for closing?

[Hells_Belle]

We're in a rental property and have just been given a 54 day notice to leave as the building has been sold. This is the second time in 14 months this has happened to us, so I think I'm done renting - this is not a reasonable way to live.

Assuming I could put cash on the table for a vacant property, what is the fastest closing I could reasonably expect if I wanted to jump in and buy right now?

 

[budapest]

If you can pay by cash, with no mortgage and if there are no issues with the deeds of the property (and they are available or have already been released), then you could close within a week. In all other cases, 6-8 weeks is more typical.

 

[Hells_Belle]

Cool.

We actually will need a mortgage - we have €135K in cash and are looking at €200K properties, but I was hoping for a parental bridging loan to do a rapid, all-cash buy because of the sudden time constraint.

My hope was then to go to the bank and get a 70K loan against the value of the house to repay the parents.

This is probably deeply flawed as a plan but I'm a bit desperate at this point. We are both self-employed and work from home, and the constant moves are disruptive to our ability to work in a way that simply must stop.