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what are some closing hold ups?

AmyKay Posted:

what are some closing hold ups?

We should be signing contract Tuesday or Wednesday night

We think everything is in order, what else bad could happen to make the deal fall through?
we had our inspection, we have the money for the downpayment and the mortgage is in the works (waiting for the contract).

When is a closing date set? and why do they get pushed back?

We are soooooo excited!!!
Anne01 Posted:

Re: after contract is signed what bad can still happen

Closing Date: there should be an estimated closing date in your contract ex: if its 6/1 - you really have until 7/1 to close before the contract is void.

Closing dates can change for many reasons. Most frequently it has to do with things that the lending institution wants completed before closing. You may need a survey for example. Your attorney will be able to guide you further.

Congrats!!
Eli Posted:

Re: after contract is signed what bad can still happen

So glad you asked this question!
We are in the same boat and since it is a for sale by owner I have concerns too. everything is going smoothly so far but i keep wondering the same thing. isn't it so exciting though!?
scary too!
congratulations on your almost new home!
AmyKay Posted:

Re: what are some closing hold ups?

thanks Anne

Eli - Signing the contract last night was crazy..but I learned a few things
- if we can't get the mortgage than the deal is off. After the seller signs the contract, if he wants out of the deal and you don't, you can sue.
After the contract is signed not too many bad things can happen, just the closing can be pushed back (I'm trying to figure out way that happens next)
Valentinegirl Posted:

Re: what are some closing hold ups?

I wrote about our hold-up in the post above by tjspidur1.

Eli Posted:

Re: what are some closing hold ups?

Amy-thank you for the info. very helpful!
cannot wait!

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