Buying A Home
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Waiting on Final Approval...
We are building a new house and it is almost finished!! Great news! However, we are set to close on the 20th of Nov. and are still waiting final approval from our builder's mortgage company. We were conditionally approved 2 months ago and have submitted all of our paperwork and are still waiting. We keep being told that they are very busy and we may not know until a week before if we are approved and that this is normal for everyone. My patience is running thin since we have had to put in our 30 day notice on the apt and as of the 25h we are homeless if this loan doesn't go through. Has anyone else experienced this, or did you receive final approval much earlier?
Re: Waiting on Final Approval...
we are in the same place as you are and just waiting for mortgage commitment as well. We were also told a week before closing.
You might want to talk to your landlord. When we gave your 30 days notices we were honest that we were purchasing a home and that our closing day was approximate, that we were interested in renting day by day if we go beyond the first of December. In Massachusetts they can't rent out our apartment until they get in after we leave to paint the walls and do the security deposit inspection, so it is no skin off my landlord's back if he gets a couple extra days rent if need be.
Maybe talk to your landlord and see if there is some wiggle room.
Good Luck