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Generally speaking, closings never happen on the first date given. Don't stress, you will be given adequate time to get your money together and be provided all the documentation.
We haven't gotten the HUD-1.
We don't know how much we need to wire for closing.
We know the bank got the appraisal a week ago, but as of today we have not received a copy and thus haven't seen it.
There's no date or place set for closing.
The loan processor is not returning my calls and/or emails today. Until yesterday she was saying "we should get the cleared to close soon" since last week. She hasn't asked for any more information, so I don't know why the delay.
Is this "normal"?
Closing should be at the place most convenient for the buyer - typically, the buyer's attorney's office or the buyer's agent's office.
If you have not gotten a clear to close, you most likely are not cleared yet. (after the conditions are cleared, it typically takes time to go through system at the bank...) I can't imagine the bank not informing you of the time & location of the close ahead of time, especially if you're moving to a different town/city/county/state.
If you call the loan processor, is there an option to press 0 for additional help or information? If so, I might try to speak to the processor's supervisor.
We literally received our clear to close, HUD-1 and everything else at 9pm the morning before we were to close. I'd start calling supervisors at this point.
We're local. The contract included the date, but place was TBD. Realtor is trying to get information from the bank and title company.
I too got the HUD a few days before. But they did warn me it might be on the day of or the night before as their company was in California. But yours is local. Have you tried going in to the branch and speaking with the manager? Something doesn't sound right if you cleared conditions over a week ago.
Do you know your closing attorney? I would contact them if so to see if you can get some info.
With that said I will sometimes get dues requests (manage HOA's) saying "closing this afternoon" "closing tomorrow" and if they are asking for dues that means they are working on the HUD's, so I wouldn't stress TOOO much
Generally speaking, closings never happen on the first date given. Don't stress, you will be given adequate time to get your money together and be provided all the documentation.
Wow. Just wow. I can count on the fingers of one hand, and have fingers left over, the number of closings I've had that haven't closed on (or in a couple of cases before) the first date given.
Generally speaking, closings never happen on the first date given. Don't stress, you will be given adequate time to get your money together and be provided all the documentation.
What????
With the occasional exception of a new construction house not completed in time, I have never in almost 10 years had a house not close on the original closing date.
Quote:
Originally Posted by Merjolie8
We're local. The contract included the date, but place was TBD. Realtor is trying to get information from the bank and title company.
Generally speaking, closings never happen on the first date given. Don't stress, you will be given adequate time to get your money together and be provided all the documentation.
I don't agree. Not closing on the contract date is A Big Deal around here -- everything is aimed at that date. One rare occasions it may get moved a day or two one way or another, but for the most part, there's too much of a domino effect for a closing not to run on a timely basis. I'm just thinking back on our last 30-50 deals -- i think maybe three of them didn't close on time, one of them due to a family emergency, one of them a new construction, and another one a mortgage company that totally mismanaged a case so badly that they were dropped two weeks before closing -- but we were STILL able to close with another lender only one day later.
We did close today. Everything at the last minute, lots of mistakes all around. We stayed at the closing table for almost 3 hours while all the paperwork got corrected. The bank used a wrong rate to do all the paperwork and HUD-1 calculations, the deed was missing some important information, the seller hasn't sent all the receipts for the work done.
But the house is finally ours
This was a really stressful experience for us as first time home-buyers. Almost all that could go wrong, did. The sellers were uncooperative, the credit union, who we choose because of their reputation, lost documents and wasn't very responsive. The agent also dropped the ball sometimes. More than once were we ready to throw the towel and stay as renters... It was like all the signs were telling us this was not the time to buy. But we kept trying and now we're proud homeowners.
Last edited by Merjolie8; 11-14-2014 at 05:49 PM..
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