Bank Postponed Closing Date (feedback, appraisal, Realtor, loan)

[yankee73]

Hey everyone!!! I was scheduled to close on Monday, but my bank said they need a few more days, possibly a week as my loan is not back from underwriting. I am losing my mind right now....should I be nervous?

[Annemieke Roell]

Nope. This is normal.

Usually, the loan officer and realtor set a projected closing date. But if the lender needs to do an appraisal review, or there is a minot snag with the title work etc. (In my experience).

I wouldn't worry about it ... this close to the final stretch the delay is probably something minor.

[yankee73]

Originally Posted by Schousse

Nope. This is normal.

Usually, the loan officer and realtor set a projected closing date. But if the lender needs to do an appraisal review, or there is a minot snag with the title work etc. (In my experience).

I wouldn't worry about it ... this close to the final stretch the delay is probably something minor.

Thanks, I really appreciate the feedback.

[rcarrillo]

Originally Posted by Schousse

I wouldn't worry about it ... this close to the final stretch the delay is probably something minor.

Well, you always hope. But its never good to assume, call the loan officer and ask them exactly what the delay is and what the underwriter is doing. It could be minor document, last minute compliance review or someone sick for a day (which makes the whole week run late) or it could be a serious issue.

Ask and get some answers so you can sleep easy.