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What is the longest any of you have waited for your house to close after the supposed initial "closing date"? I am on day 19 of waiting. My father-in-law is waiting of one of his houses and experiances this regualry. We are using a Re-Max branch and I'm wondering if this is the norm in STL or if it's this just this particular company and mortgage company that they are associated with. I'm a Realtor in the Phoenix area and when we say somethings gonna close it does and if there is a delay it's never been more than 72 hours. Just wondering if any of you had experianced a problem like this before in the STL market.
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"They misunderestimated me."
Bentonville, Ark., Nov. 6, 2000
"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."—Washington, D.C., Aug. 5, 2004
"If you're sick and tired of the politics of cynicism and polls and principles, come and join this campaign."
-Hilton Head, S.C., Feb. 16, 2000
Gives you the warm fuzzies, doesn't it? -
Uh, Matt, that happens in real estate all the time, everywhere. Housing is probably the biggest purchase somebody can make, and sometimes there's a lot of stuff to work out.Originally posted by matt75@Mar 8 2004, 10:31 AM
What is the longest any of you have waited for your house to close after the supposed initial "closing date"? I am on day 19 of waiting. My father-in-law is waiting of one of his houses and experiances this regualry. We are using a Re-Max branch and I'm wondering if this is the norm in STL or if it's this just this particular company and mortgage company that they are associated with. I'm a Realtor in the Phoenix area and when we say somethings gonna close it does and if there is a delay it's never been more than 72 hours. Just wondering if any of you had experianced a problem like this before in the STL market.
Off-hand, I can think of four or five people in Las Vegas, Seattle, California that I know who had minor problems in various issues concerning closing.
I doubt that it has anything to do with St. Louis, and I imagine it happens in Phoenix quite a bit also.The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life. -TR
OFFICIAL LOUNGE SPONSOR OF NEW YORK CITY, TEDDY ROOSEVELT AND THE MARYLAND TERRAPINS
Madyaks2 Thought Of The Day: I'm just as dumb as madyaks1. -
Plus, escrow laws are pitiful.
The amounts are insignificant and the enforcement much to lax.Un-Official Sponsor of Randy Choate and Kevin SiegristComment
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I"m sure Tino Martinez can help you -- he sold his right quick...
"Can't buy what I want because it's free...
Can't buy what I want because it's free..."-- Pearl Jam, from the single CorduroyComment
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Originally posted by lasvegasreb+Mar 8 2004, 11:12 AM-->QUOTE(lasvegasreb @ Mar 8 2004, 11:12 AM)
Why is closing being delayed?
Let me guess; the underwriters haven't signed off on the loan?Do what thou wilt shall be the whole of the law ~
A.C.Comment
I'm being told it's a new kind of loan and some of the stuff they used to be able verify over the phone now they need in writing. So this has taken an extra 19 days? Whatever.Originally posted by bombay@Mar 8 2004, 01:15 PM
Why is closing being delayed?
Let me guess; the underwriters haven't signed off on the loan?"They misunderestimated me."
Bentonville, Ark., Nov. 6, 2000
"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."—Washington, D.C., Aug. 5, 2004
"If you're sick and tired of the politics of cynicism and polls and principles, come and join this campaign."
-Hilton Head, S.C., Feb. 16, 2000
Gives you the warm fuzzies, doesn't it?Comment
I don't know, Matt. That sounds shaky. Faxes, Fed Ex, all kinds of ways to expedite documentation. I think I'd try to pin down the lender.Do what thou wilt shall be the whole of the law ~
A.C.Comment
I'd love to if I could get him to return my calls. I'm in Phoenix and he's in St. Louis so there's only so much I can do. That's the shitty part of this whole situation. My options are really limited due to my distance.Originally posted by bombay@Mar 8 2004, 01:29 PM
I don't know, Matt. That sounds shaky. Faxes, Fed Ex, all kinds of ways to expedite documentation. I think I'd try to pin down the lender."They misunderestimated me."
Bentonville, Ark., Nov. 6, 2000
"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."—Washington, D.C., Aug. 5, 2004
"If you're sick and tired of the politics of cynicism and polls and principles, come and join this campaign."
-Hilton Head, S.C., Feb. 16, 2000
Gives you the warm fuzzies, doesn't it?Comment
Never had one close in any less than 8 weeks.And, frankly, it has never occured to me that "winning" a debate is important, or that I should be hurt when someone like Airshark or kah, among others (for whom winning a pseudo debate or declaring intellectual superiority over invisible others is obviously very important) ridicule me.
-The Artist formerly known as King in KCComment
It's been 3 months since this process started, not 19 days. That's just the closing date I was given. This is on top of a deal that fell through with a different buyer in the beginning of December. This has been an annoying experiance.Originally posted by Damtoft@Mar 8 2004, 03:43 PM
Never had one close in any less than 8 weeks."They misunderestimated me."
Bentonville, Ark., Nov. 6, 2000
"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."—Washington, D.C., Aug. 5, 2004
"If you're sick and tired of the politics of cynicism and polls and principles, come and join this campaign."
-Hilton Head, S.C., Feb. 16, 2000
Gives you the warm fuzzies, doesn't it?Comment
My wife is a REMAX agent. Not that I am in expert on this topic, but here is what I have picked up.
Loan closings are not usually scheduled before lender approval is obtained. Usually there is a "final" walk through of the property a few days before the scheduled closing. If there are some issues identified here with the condition of the house, depending on the severity, closing can be delayed. I am not referring to the formal inspection which should have already taken place, but the buyer's last check review.LONG LIVE THE NOTE!
Comment
We've already had a final walk through. I don't think it's the agent as much as the lender this agent uses. He is giving us the runaround and I'm starting to get sick of it.Originally posted by DC Santana@Mar 8 2004, 04:48 PM
My wife is a REMAX agent. Not that I am in expert on this topic, but here is what I have picked up.
Loan closings are not usually scheduled before lender approval is obtained. Usually there is a "final" walk through of the property a few days before the scheduled closing. If there are some issues identified here with the condition of the house, depending on the severity, closing can be delayed. I am not referring to the formal inspection which should have already taken place, but the buyer's last check review."They misunderestimated me."
Bentonville, Ark., Nov. 6, 2000
"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."—Washington, D.C., Aug. 5, 2004
"If you're sick and tired of the politics of cynicism and polls and principles, come and join this campaign."
-Hilton Head, S.C., Feb. 16, 2000
Gives you the warm fuzzies, doesn't it?Comment
Originally posted by matt75+Mar 8 2004, 04:53 PM-->QUOTE(matt75 @ Mar 8 2004, 04:53 PM)
Just found out the buyer isn't a citizen so I'm sure this isn't helping matters."They misunderestimated me."
Bentonville, Ark., Nov. 6, 2000
"Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we."—Washington, D.C., Aug. 5, 2004
"If you're sick and tired of the politics of cynicism and polls and principles, come and join this campaign."
-Hilton Head, S.C., Feb. 16, 2000
Gives you the warm fuzzies, doesn't it?Comment
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