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Old 10-24-2011, 12:03 PM
 
10 posts, read 38,154 times
Reputation: 12

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We are supposed to close on the sale of our house this Friday, October 28th and STILL DONT HAVE FINAL APPROVAL on the buyers loan?? There were some documents the lender was missing and had to get from the buyers, all these forms were completed and sent to the underwriter last Tuesday.

I keep bugging the lender and he keeps telling me "it's in underwriting, I asked them to put a rush on the final approval to go from clear to close" OUr house went under contract on Sept 9th, I don't understand what's taking so long??

I.m nervous this deal is going to fall thru!!!?
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Old 10-24-2011, 12:19 PM
 
14,676 posts, read 15,501,187 times
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I'm sure there are people who know more about this than I do, but I don't think the situation is all that unusual. The lender generally runs a credit check again right before closing to make sure the borrower hasn't taken out any loans since the initial loan approval. Final approval isn't given til that has been done.

We sold a house and closed about 2 weeks ago. The week before we were scheduled to close, the lender saw that the buyer had recently received a big deposit in his bank account. As it turned out, it was a gift for the deposit and so they had to provide a gift letter. They didn't get the letter in until Monday and so we didn't have a firm closing date and time until Tuesday and we closed on Wednesday. So, unless the lender is indicating that something is really wrong, you probably don't have anything to worry about.
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Old 10-27-2011, 07:08 AM
 
333 posts, read 884,451 times
Reputation: 192
Same thing happened with my last one. I was on pins and needles, but apparently this is not that unusal.
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Old 10-28-2011, 04:40 AM
 
1 posts, read 3,775 times
Reputation: 10
My frist closing day was oct 21 then oct 28 no closing now oct 31 no call from the land so I call and that when she said i will closed on oct 31 will I
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