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I made offer in the month of July.supposedly close by August 16th,but today my attorney called me and told me that there is still mortgage on the house. She needs some information from sellers ,but nobody can reach the sellers. When i asked her are these things should be done by earlier as we are just one day ahead of closing.She told me that she informed me out of courtesy.whAts that supposed to mean? My realtor and my attorney are not picking up calls today.
I am suppose to vacate my apt on Sunday.my husband took 3 days off which he cannot cancel.My brother is coming from west for my house warming function this Sunday.my rate lock expires this Friday.
My attorney blames the sellers attorney.But from my point of view,isn't she is the one to follow up this issue beforehand? She told me last week the title is done,what is the meaning of that if the house has mortgage on it? I honestly do not understand,pls explain me for whose fault I am going to pay?
Do you know the title company? Who is doing the closing?
If you are closing tomorrow, you should have an HUD1 on your hand to review by now. Doesn't sound like a typical RE transaction here.
Your attorney is informing you these things because this is what your agent and closing should have been working on the last few weeks.
Most house that are sold will have a mortgage on it.. That's fine.. This is where the closing company do all the work and decides what money goes where. I don't think you really understand the process of buying and closing on a home.
Sure sounds like a lien hasn't been released and the title work is back and is subject to evidence that prior lien is released. (I hope those thinking about ditching owner's title coverage are reading).
OP, this can truly not be anyone in this transaction's fault. Make alternate arrangements ASAP. It's my experience people without answers typically don't return calls.
these things should be done by earlier as we are just one day ahead of closing.She told me that she informed me out of courtesy.whAts that supposed to mean? My realtor and my attorney are not picking up calls today.
It likely means you're not going to close on time. It may be delayed a day to a month or never. Closing is not a guarantee.
Quote:
Originally Posted by sasi1273
I am suppose to vacate my apt on Sunday.my husband took 3 days off which he cannot cancel.My brother is coming from west for my house warming function this Sunday.my rate lock expires this Friday.
Not to be mean, but your living situation has nothing to do with this deal. No one cares. Its something you will have to figure out on your own. Delays are very common these days, people should not set a move out date until the ink is dry on the closing papers. Typically, it's no one's FAULT, it's just the process.
That's weird... didn't your realtor inform you that there was a hiccup?
I feel your pain... time is definitely money here. Unfortunately, I think the person paying will be you. For a temp living situation like a motel and maybe getting storage, and maybe even in a slightly higher interest. Just try to be positive... if you do end up getting a higher interest rate, you can always finance down the road. I think i remember reading about people paying a fee to extend their locked in rate for longer.. ask your LO.
Also see if your husband can talk to his job and explain things to them to see if he can work those days he took off.
Thats the only thing I can offer. Sorry
It likely means you're not going to close on time. It may be delayed a day to a month or never. Closing is not a guarantee.
Not to be mean, but your living situation has nothing to do with this deal. No one cares. Its something you will have to figure out on your own. Delays are very common these days, people should not set a move out date until the ink is dry on the closing papers. Typically, it's no one's FAULT, it's just the process.
I think it was part of a vent more so than anything.. Id be stress too
Venting we totally get. I totally understand how someone would come here, with hopes to have others to commiserate and say bad seller, they will pay.....and off with their heads. But when it's the exact opposite.....it's a cold, unwelcome splash in the face and the one time social media really stings.
We can hit them between the eyes, so others reading pick up on the urgency, or go soft, with a gee, I don't know, let's wait and see? The latter may be kinder, but far more expensive and possibly borderline irresponsible.
Venting we totally get. I totally understand how someone would come here, with hopes to have others to commiserate and say bad seller, they will pay.....and off with their heads. But when it's the exact opposite.....it's a cold, unwelcome splash in the face and the one time social media really stings.
We can hit them between the eyes, so others reading pick up on the urgency, or go soft, with a gee, I don't know, let's wait and see? The latter may be kinder, but far more expensive and possibly borderline irresponsible.
She came on here with questions... you among others answered the questions.. the person who said no cares about her living situation offered no answers... just a "yep, you're screwed" pretty much.
She mentioned it was her attorney that informed her of a potential "hiccup" and he even said it's only a courtesy call, as in he is NOT the one who usually does this...
She can't get a hold of her realtor.... so I think she was trying to ask who was suppose to inform her that things were not running as smoothly as she was lead to believe. ...I think.
She's stressed... he husband taking time off(making no money)... they need to leave their apt with a truck full of their stuff... family is coming in from out of state I believe so that means they are losing money too... so she feels responsible for them not getting paid for those days.. and a little embarrassment for not closing on time because she has a house warming and now has to explain to people they are not closing in time. Maybe she's nervous because her friends will think it has something to do with THEIR finances... and then having to pay MORE money on top of the moving expenses to find a temp living situation... and not to mention maybe spending most of their savings for a down payment, home inspection, appraiser, etc.
Why kick someone when they are down and this stressed? THAT makes NO sense... just give her matter of fact advice and leave the harsh criticisms out of it. They could have easily said.. "it's no ones fault, things like this happen... nature of the beast".
Keep calm and carry on, OP... I care about your living situation
She came on here with questions... you among others answered the questions.. the person who said no cares about her living situation offered no answers... just a "yep, you're screwed" pretty much.
She mentioned it was her attorney that informed her of a potential "hiccup" and he even said it's only a courtesy call, as in he is NOT the one who usually does this...
She can't get a hold of her realtor.... so I think she was trying to ask who was suppose to inform her that things were not running as smoothly as she was lead to believe. ...I think.
She's stressed... he husband taking time off(making no money)... they need to leave their apt with a truck full of their stuff... family is coming in from out of state I believe so that means they are losing money too... so she feels responsible for them not getting paid for those days.. and a little embarrassment for not closing on time because she has a house warming and now has to explain to people they are not closing in time. Maybe she's nervous because her friends will think it has something to do with THEIR finances... and then having to pay MORE money on top of the moving expenses to find a temp living situation... and not to mention maybe spending most of their savings for a down payment, home inspection, appraiser, etc.
Why kick someone when they are down and this stressed? THAT makes NO sense... just give her matter of fact advice and leave the harsh criticisms out of it. They could have easily said.. "it's no ones fault, things like this happen... nature of the beast".
Keep calm and carry on, OP... I care about your living situation
You totally misunderstood my comments, all I was trying to say (actually musing aloud) it's a very delicate balance to tell it like it is and offer encouragement.
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