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With how awful loan officers are at their job I wouldn't be surprised if you put an offer on a house in March but couldn't close until June. I have a friend that works as a real estate lawyer and she says she can't remember the last time a closing happened as planned. When we closed on our house the date got pushed back three times because the loan officer kept forgetting to do little things. We ended up closing on the same day we had to be out of our apartment. Talk about stressful!
You mentioned Wellesley, parts of Preston (which parts?)... Are you going for specific schools or do you just like the mature trees/age of homes and so forth?
We have a strong preference for the neighborhoods with mature trees, etc. Preston still seems so large/sprawling to me that I can't pinpoint one neighborhood over another off the top of my head (any advice?). There are quite a few that are way beyond our price point and yet others that have seemed a bit "rundown" (for lack of a better word). We are of course concerned with schools but we'll work with what we end up with. I like the idea of the kids going to Weatherstone Elementary if possible...I've heard decent things and the overcrowding doesn't seem to be an issue. I know it's also the overflow school for a number of the schools on the verge of capping.
With how awful loan officers are at their job I wouldn't be surprised if you put an offer on a house in March but couldn't close until June. I have a friend that works as a real estate lawyer and she says she can't remember the last time a closing happened as planned. When we closed on our house the date got pushed back three times because the loan officer kept forgetting to do little things. We ended up closing on the same day we had to be out of our apartment. Talk about stressful!
We offered in November. Wanted to close before Christmas. Still have not closed.
Sellers held us up. Go figure.
I am thinking it'll be a 90-day closing. We really wanted a 30-day.
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Interesting thread. I have also seen that the inventory is very low. We have been thinking about moving up in home size. Just wondering as to what the new price point is in which it is a buyers market.
We offered in November. Wanted to close before Christmas. Still have not closed.
Sellers held us up. Go figure.
I am thinking it'll be a 90-day closing. We really wanted a 30-day.
Wow...90 days to close?!!
I had a VA loan that closed 2 weeks late and a USDA loan that closed 30 days late but all my buyers going conventional or FHA are closing as scheduled.
Lenders aren't the only issue...goverment regulations are slowing things down!
I had a VA loan that closed 2 weeks late and a USDA loan that closed 30 days late but all my buyers going conventional or FHA are closing as scheduled.
Lenders aren't the only issue...goverment regulations are slowing things down!
Vicki
Our sellers had some things to clear up so that the title was clear. Took WAY longer than we figured. Our CU's average close time is 30-45 days.
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We were doing the FHA and closed three weeks late. "Oh you mean I should have verified employment sooner than the day of closing?"
HA! Similar thing right now with our lender. So odd!
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