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Arrgh - after months of waiting, it looks like the bank will accept our offer on Monday. My realtor is telling us that they will want to close in 30 days, but the home needs a streamline K mortgage because of some issues and my mortgage broker is telling me that we need 45-60 days! He said that the state of the industry right now is that banks are inundated because of the perfect storm of low rates and more reasonable prices. He did say that a commitment to lend letter is possible in the 30 day time frame...will that be enough?
I thought we were finally in the clear, but now am terrified that we will lose the deal because we will be unable to close on time!
If it were a perfect world, you could turn around and make the bank wait for all the time you have waited on them. I doubt that is the case, see if the closing can be negotiable.
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