How long does CONV take to close?

[Patrick Boutin]

I write this as I had been advised to look more into conventional loans as opposed to FHA or FHA 203ks.

I have been considering FHA 203k and was told that offers submitted with this financing wouldn't be very interesting from the sellers perspective because of the PITA that lenders are. Specially in the ultra competitive market of SF Bay Area. There are so many buyers with money that sellers don't want to deal with you if you have FHA 203k. That's what several RE agents have told me.

From a seller's perspective how much more advantageous is an offer submitted with conventional financing as opposed to FHA?

[Chris Mason]

My current "docs in title" record, more recently than Oct 2015 & here in the Bay Area, was 11 days. 

However, there are no borrowers reading this that are in a position do what that borrower did to help me make that possible. She wasn't an industry insider, but her boss was a commercial real estate mogul and her professional job duties including helping him apply for & close mortgages. I swear to God I could have told her that underwriting asked her for a cell phone selfie of her and her cat eating a carrot, and she would have uploaded it within 10 minutes, no questions asked about "why does underwriting need this?" or anything else, and the cat/person/carrot selfie would have been exactly what I asked for, nothing more and nothing less.

Put 21 days in your head as fastest possible w/ conventional & just assume you don't have going for you what the 11 days gal had going for her.

FHA 203k is for something you find off market, for the most part, or something you inherit.