Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
In the process of buying a house and we were told no more than 30 days until closing. I am wondering when the 30 days would start. So far we have completed a purchase agreement and inspection on the house. We have submitted all required info to our LO but we are to meet in 2 days to sign the application. We were pre approved after submitting credit info, paystubs, bank statements, etc. I would think the 30 days would not start until after the long app has been signed and our closing date on the PA says 4/29 Is it possible to close by then? I have emailed my LO asking the same question but wanted others opinions.
FYI this is a USDA guarenteed loan (rural housing)
In the process of buying a house and we were told no more than 30 days until closing. I am wondering when the 30 days would start. ...closing date on the PA says 4/29 ...
It starts and ends according to the terms of your purchase contract. In your case, it ends on 4/29 according to your PA.
Closing dates are not firm deadlines UNLESS the contract is written "time is of the essence."
If you NEED the house by a particular time your seller has to be OK with that AND if you set the closing too aggressively you may miss it anyway because of things outside of your control.
What do you mean? Is this something I should be worried about?
Tanya was referring to the possible government shutdown due to the budget issues, which may have affected government backed loans such as USDA. No longer an issue since agreement was reached on the budget.
I don't think we will close by then. We met on the 13th and signed all the paperwork. I think our file is currently in processing and waiting on the appraisal to come back (they said mid to end of this week). After that it seems there would be so much more to wait on with uw approval and USDA approval. I think closing by end of month is a long shot I hope I am wrong.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Is it possible to close by then? I have emailed my LO asking the same question but wanted others opinions.
