If there are only a buyer and seller involved, either may choose the closing date. Both parties must agree to that date and it should be reflected in the Purchase Agreement. Generally, if there will be inspections or any conditions to the purchase agreement, the closing date is set for 30 to 60 days in the future. If financing is involved, generally the lender chooses the closing date, but is typically about 60 days from the date the purchase agreement is signed.