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Old 09-26-2013, 07:50 PM
Status: "Summer is finally here and I'm lovin it!" (set 28 days ago)
 
Location: Taylors, SC
9,434 posts, read 16,557,683 times
Reputation: 3000

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It seems like it takes forever. We started the process on September 2nd. We went back and forth on negotiations. The bank finally agreed on an offer and the back approved it on September 23. We signed the final papers and are ready on our end. We are still waiting on an official closing date because the bank still has to finish up the paperwork on their end. I thought because we were cash buyers, this would've have been done in less than a week. My realtor says be patient and keeps me updated. We are just getting impatient.
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Old 09-26-2013, 08:42 PM
 
Location: Austin
4,873 posts, read 9,856,184 times
Reputation: 4339
Some banks have a 45 day process and you just have to deal with it. Your cash is green today and it will still be green in a couple of weeks. Yes, you need to be patient.
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Old 09-27-2013, 09:17 PM
 
Location: Mount Laurel
2,593 posts, read 3,493,897 times
Reputation: 1886
There is still quite a bit of processing to do after the approval. Cash or no cash, it's still going to take the bank the same amount of time.
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Old 09-28-2013, 08:30 AM
 
Location: Scottsdale, AZ
1,635 posts, read 2,205,907 times
Reputation: 1909
Wow, the dates on your post (9/26) and the date on contract acceptance (9/23) make you sound very impatient (3 days). You still should be doing a title search, inspections, escrow, etc. Don't be in such a rush. Make sure all the I's are dotted and T's are crossed before you hand over your money.
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Old 09-28-2013, 06:24 PM
Status: "Summer is finally here and I'm lovin it!" (set 28 days ago)
 
Location: Taylors, SC
9,434 posts, read 16,557,683 times
Reputation: 3000
Just an update, we're scheduled to close on Mon 9/30.
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Old 09-28-2013, 07:18 PM
 
Location: Florida
2,291 posts, read 2,817,874 times
Reputation: 5098
Took mine 90 days to close. Bank who foreclosed on property didn't seem to know that there were IRS tax and other liens on the property, so they had to be cleared up. I was given several close dates, nothing happened until the liens were cleared.
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Old 09-29-2013, 08:09 AM
Status: "Summer is finally here and I'm lovin it!" (set 28 days ago)
 
Location: Taylors, SC
9,434 posts, read 16,557,683 times
Reputation: 3000
Quote:
Originally Posted by Dollydo View Post
Took mine 90 days to close. Bank who foreclosed on property didn't seem to know that there were IRS tax and other liens on the property, so they had to be cleared up. I was given several close dates, nothing happened until the liens were cleared.
I know, we've had several closing dates as well. We'll see what happens. I did get a final closing cost statement so I think that's a good thing.
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Old 09-29-2013, 08:39 PM
 
Location: NC
5,390 posts, read 3,633,007 times
Reputation: 5439
Hopefully you get a clear title
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Old 10-01-2013, 08:59 PM
Status: "Summer is finally here and I'm lovin it!" (set 28 days ago)
 
Location: Taylors, SC
9,434 posts, read 16,557,683 times
Reputation: 3000
We closed yesterday and yes we got a clear title.
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Go Back   City-Data Forum > General Forums > Real Estate > Foreclosures, Short Sales, and REOs
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