Closing on a Saturday?? (insurance, banks, buying, house)
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My husband and I are in the process of buying our first home. After our offer was accepted, we asked for our closing day to be on a Saturday. Our realtor was fine with it as well as the sellers and their realtor. When I talked to our broker, I specifically said that our closing date was set for Saturday, May 24th. She responded (in an email I still have) that the 24th would be fine. Now, all of a sudden she's telling us that they've never done a closing on a Saturday and we'll have to close the Friday before. We're moving from out of state and already lined up childcare and re-arranged work schedules so that we could get there for a Saturday closing.
I guess what I'm asking is closing on a Saturday that unusual and impossible? I would've been fine picking a different day back when we wrote up the Purchase Agreement, but Saturday was the most convenient and was agreed upon by all parties. Now we're less than a month away and it's an issue! I'm also confused because we almost went with Chase, who doesn't even have any locations in Iowa and yet they were fine with closing on a Saturday. We chose Wells Fargo mainly because they are local and figured they'd be easier to work with. Not sure about that now...
Thanks for any help!!
That's odd because i went with wells fargo and we closed on a saturday. we're in VA. It might have something to do with the title company. there was only one title company that was open on saturdays so we had no choice but to use them.
Last edited by surfingatwork; 04-29-2008 at 02:02 PM..
Reason: forgot last sentence
What happens when a document(s) need to be corrected and there is no one working in the closing dept. at the lender providing the financing? White out??
What happens when a document(s) need to be corrected and there is no one working in the closing dept. at the lender providing the financing? White out??
We had a problem at our closing, a HUGE problem actually (private problem). we chose to go ahead with the closing anyway and then worked it out with wells fargo monday morning. after 3 weeks it was fixed in our favor but it helped that we have our other home with wells fargo as well and have been with them for years. It was a big risk on our part but we knew it would be resolved.
I'm curious how this was done if the property didn't actually record on the weekend? Or did it?
it didn't record until monday but our situation was unique in that we were allowing the sellers to stay in the home after the closing. not a situation i would recommend to anyone. this was a very unique arrangement and we were extremely comfortable with the sellers staying after the closing.
Last edited by surfingatwork; 04-29-2008 at 02:41 PM..
Reason: clarification on recording
I think I see what happened. Your signing took place on Saturday, but your closing (close of escrow) probably didn't go through until early the following week (probably Monday/Tuesday). Two completely different events.
I think I see what happened. Your signing took place on Saturday, but your closing (close of escrow) probably didn't go through until early the following week (probably Monday/Tuesday). Two completely different events.
technically yes but we did get the keys to the house on saturday and we did go to the house after the closing and started moving a few things in. in both buyer and sellers mind we (buyers) owned the house on that saturday.
I'm not trying to get into an argument, just discussing the OP's question.
If the deed wasn't recorded in the courthouse, technically and legally you weren't the owners yet, even if the seller was comfortable with you moving in furniture immediately.
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