NWR...Closing on a house and have a question

http://www.lifamilies.com/chat/topic-36728-1.html

Re: NWR...Closing on a house and have a question

Its typical for these types of delays to my knowledge. We closed on our co-op in October and there were several delays. As long as everyone is available, including the bank's attorney - then I would think you might be able to later this week, if not def. next week.

Good luck and congratulations!

Re: NWR...Closing on a house and have a question

It takes two business days since there is a huge amount of paperwork that needs to be drafted (mostly form docs or computer generated) and then various people need to process all of that paperwork before the bank can fund the loan.

Then once all of that is done and the bank signs off and someone there needs to process all the final docs and give the okay to fund the loan.

Finally, checks need to be cut for everyone involved - the broker, the seller, the attorneys, the title company, the prior mortgage holder, the insurance company, any banks with liens etc. It is just a matter of how long it can take to get all the paperwork completed.

You will probably still close this week

Congratulations.

Re: NWR...Closing on a house and have a question

Awwwwwwwwww...thank you ladies, that is music to my ears!!

I am SO excited, just nervous because we already told our landlord we will be out by the 1st of March. Thankfully she is my cousins MIL so I am sure she wouldn't mind if we stuck around for a couple of more days...she hasn't found another tenant for our apartment yet.

BTW...if anyone is interested in a 2 bedroom apartment located in Staten Island towards the Outerbridge Crossing (not sure how much she is charging for rent) I would say a little over $1000k. The house is on a dead end street on a quiet block and parking is not a problem at all.

FM if you are interested


Thanks again ladies

Re: NWR...Closing on a house and have a question

I feel your pain... our closing date was moved back about 8 times! Everyone involved never heard anything like it. And my FH had to keep taking days off in order to 'be ready'. Thank GOD I had a seller who let us have all of our furniture delivered... and even let us start moving in! She gave us a key to her house and everything! I don't know what we would have done if she didn't do that. Anyway, I think we were supposed to close on October 22nd or something... we ended up closing November 16th! It was worth the wait, but I know how aggravating it is. They would actually have us believe that we MIGHT be able to close 'this afternoon!'. We were on the edge of our seats for a month. Insane. I think it IS possible for this week, but, besides having the paperwork ready, it's also up to whether or not everyone can make it (including the bank attorney). Good luck!

Re: NWR...Closing on a house and have a question

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Posted by sarahradio5

I feel your pain... our closing date was moved back about 8 times! Everyone involved never heard anything like it. And my FH had to keep taking days off in order to 'be ready'. Thank GOD I had a seller who let us have all of our furniture delivered... and even let us start moving in! She gave us a key to her house and everything! I don't know what we would have done if she didn't do that. Anyway, I think we were supposed to close on October 22nd or something... we ended up closing November 16th! It was worth the wait, but I know how aggravating it is. They would actually have us believe that we MIGHT be able to close 'this afternoon!'. We were on the edge of our seats for a month. Insane. I think it IS possible for this week, but, besides having the paperwork ready, it's also up to whether or not everyone can make it (including the bank attorney). Good luck!

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Wow, that's crazy!!...I sure hope I don't have to wait that long because I actually took vacation days for this Wednesday until the following Wednesday and if we don't close this week it will ruin everything...my DH isn't going to be able to take off next week because he is managing a project that he has been working on for a long time...so that means I would have to do everything myself

Hopefully everything will work out, please keep your fingers crossed for me