reasons why your closing date changed

mb77 · September 2011

we're scheduled to close in 3 wks. did any of you experience any problems during the process that pushed your closing date later?

lil_jen051708 · September 2011

Yes and it was very random. The house was vacant and the master toilet was turned off at the wall. Apparently the appraiser checks to make sure the water/toilets work for livability reasons and said that toilet has to work before he signs off. There was another toilet so it's not like we'd be without. Anyway, we bought as is and the sellers would not do anything to fix this. Their lawyers drafted a letter that we could fix the toilet. Apparently the toilet just kept running so the heirs turned it off. $7 and a trip to Lowes fixed the toilet. Appraiser had to come and approve it (and we paid $100 for him to do it) and then we were cleared to close.
ETA: this whole process took about a week because of a holiday weekend and the inspectors schedule.

mbcdefg · September 2011

We were supposed to close tomorrow. Now we're likely closing sometime next week.

We were told a week or two ago that the bank wanted another appraisal done on the property ... one bank person told us that it was because the house is a flip and they need an appraisal because of that, and another bank person told us that it was because of Hurricane Irene. This second bank-ordered appraisal was done on Monday 9/12.

I called our mortgage person today (actually, the person who's filling in for our regular mortgage person while she's on vacation) and he said that we can't close tomorrow since he hasn't yet received the appraisal, and he needs time to process it after he receives it. So we're hoping to close on Tuesday 9/20.

Not a huge deal since it doesn't interfere with our moving plans, but it's the principle of the thing. The bank knew that they were doing this new appraisal and they had PLENTY of time to get everything sorted out, rather than figure out less than 24 hours ahead of time that we wouldn't be able to close on the date we've had marked down since August 1.

koosh ball · September 2011

Ours took about 2 weeks longer. Nothing crazy... just little things. Like the appraisal came back 2500 less than we offered so the builder had to lower the price. The bank was being annoying. Lots of random paperwork and other issues related to us already owning a condo. My husbands employer is so big that the bank couldn't verify employment and they had issues with that.

Madringal · September 2011

My closing was delayed 1 week. We were buying a home and selling a home at the same time. The buyers of the home I was selling were taking thwir sweet time turning in their docs and then 2 days before closing the idiots deposited 8K in cash into their account. They had to get all kinds of additional documentation that pushed back the closing. I obviously wasn't going to close on my new house until I had closed on the old house.

Justinlove · September 2011

Hmmmm...let's see. On our refi, we were delayed due to a clerical error on three of the documents.

On our current home, we were delayed twice. The first delay was due to the county property taxes being issued the same week so our lender wanted to wait until those were published. The second delay was due to the seller (a bank) neglecting to sign a set of forms (ironically, forms they generated).

realisticdreams · September 2011

Tomorrow was the last day per our short sale addendum that we had to close..we aren't closing tomorrow.

Our delay was from our file not getting to USDA directly after appraisal and our water failed the first time so it took over 2 weeks altogether to get a passing water result.

We are hoping to close next week but so far no date.

LO said he would call me "right back" 2 hours ago.

grahamsm3 · September 2011

Ours was not delayed, but it was close for a while - some critical info was left off the HUD-1 and there were about 6 different professionals scrambling to fix things the morning of - it went on time, but very well could have been pushed a day or two.

breaness · September 2011

Our closing date wasn't changed because it couldn't be. We had to move that night (a Friday), and be 100% out of our apartment by early the next week.

However, Bank of America was NOT ready on time even though we had everything they needed to them with plenty of time. Our settlement was set for 4:00 on Friday and it wasn't until 5:00 that they got the funds, but we sat at the Title company's office until 8:30 that night waiting on docs to sign.

We had to move over night that night because of Hurricane Irene hitting the next day. We didn't finish moving until 3 AM.

landsear · September 2011

Our closing date was delayed two weeks. We used a broker, and due to some credit problems, we had the 'cream of the crop' for lenders. Our file was not even in underwriting until one week after our closing date on our contract.

BlackDiamond3201 · September 2011

I work for a real estate attorney. I rarely see a closing date go as scheduled. The reasons vary, but it's typically because some document did not come in, something could not be done, something didn't come back as expected and you have to iron out the details.

jen5-03 · September 2011

When we sold our last house, the buyer originally was going with Bank of America... and she needed a pretty fast closing (she was almost at her due date and needed to move!) I whined about it to my realtor who agreed with me that BofA sucked. She mentioned it to the buyer's realtor and the buyer ended up switching to another smaller mortgage company. That local company was awesome and we closed two weeks early - one week before Thanksgiving instead of one week after.

reasons why your closing date changed

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