Why do real estate closings take a month on average, while automobile deals (involving comparable value, but much greater risk) take minutes?
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Real estate is not comparable in value to automobiles. Depending on the location, the median home price ($200,000 to $1,000,000) is 10x to 50x the cost of an average car ($20,000).
For that amount of money, the buyer and sellers want to make sure things are okay. You need to have inspections, mortgages, and title checks to make sure the transaction goes through on both ends. This takes many people with different schedules so the process can extend out to a month.
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