Buying A Home
MrsS728
member
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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.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Setting a Closing Date
I was just wondering what other people have experienced when purchasing a house. My husband and I put in an offer on May 4th, accepted May 11th, commitment letter May 30th. We are still waiting on a closing date. Our agent has called several times asking if we've heard anything too. How long does it usually take to get a closing date? We will probably close anywhere between July 16th and August 2nd. Thank you for your responses. They are much appreciated.
Re: Setting a Closing Date
Honestly, it could take up to the day before to actually get a closing date. The dates are determined by the banks and how long they need to process all of the paperwork and originate the loan. Traditionally, banks will try to get the loan originated and disbursed within either 30, 45, or 60 days. If you are taking out a non-traditional mortgage, like an FHA, a HUD, USDA Rural, or a 203K, then the time between commitment and closing may be even longer than the time it normally takes.
From the day that we offered on the house to the day we closed was 100 days exactly, however, we fell into one of the categories above with a non-traditional mortgage.
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Same here!
Our houses (selling & buying) went "under contract" around 5/4. Both contracts had expected settlement dates written in for 6/28. We got the official 'clear to close' on 6/18 from the mortgage company. We will be closing on both houses on 6/28.
Same here. We specified a range of 5 days in our initial offer (about 45 days from when we put the offer in). The bank picked one of those days.
Ditto. We put in our offer on like 6/25 I think and asked for a closing of 7/26. Right now, we will be cutting it close to the wire based on the estimates the mortgage company gave. We don't have a set closing date, but we're hoping to at least close before the end of the month.