Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
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Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Waiting.
So, apparently I thought the end of May, we would be closing. We probably still will be, but the lawyer has not given us a closing date yet. We already had the home inspection done, with no problems found. We're just waiting for everything to come from "underwriting." That's what DH says. I have no clue what that means. How long does that usually take? TIA!
Re: Waiting.
In my experience, until about 5 to 7 days before your scheduled close.
We picked our closing date, that's why we have a general idea when it'll be. There's always an off chance that it might get pushed back a bit, but so far everything is on track.
You didn't put a closing date in your contract? That's fairly customary around here.
And there are lots of posts along the lines of "ARRG!! We were supposed to close on Friday and its been pushed back!"
Did you put an estimated close date in your contract? Plan for that date until you hear otherwise. But, in my experience, the bank is ordering appraisals and such, aiming to meet the close date you probably put in your contract; however, the its a week or 10 days before closing when all the action really starts. Heck, the last time I sold a house the loan officer died the 2 days before closing, pushing closing from a Friday to a Monday. But, maybe thats just a quirk of the standard contract we use around here where you actually put in a close date when you submit an offer.
I'd think there should be a target closing date in your contract which is what the loan officers and attorneys shoot for as they pull everything together.
When we were waiting for underwriting to be done, we touched base with our loan officer to make sure they had all of the information they needed, weren't waiting for anything from us,etc.
If I were you, I'd try to move that up. It may be too late to move it up, but May 26th or 27th would be much better. Then you'd get the long weekend to move in. May 30th is Memorial Day.
Thanks! We're actually not in a hurry to move in. Our lease at our apt. complex is not up until July 31st (and we can't get out early.) So we'll be taking our time the month of June, and fixing it up before moving in.