real estate escrow?

Question

I have a condo that is closing on Thursday. The escrow company is waiting for paperwork from the buyers lender. What takes so long? they still haven't received it, and its almost the end of the day!

Answer 1

I would say to keep your patience as well. I have been a mortgage broker for many years and this does happen. Sometimes it can be avoided but most of the time it is dependent on how busy your lender is. They see thousands of files daily and there turn times ( time it takes to get the loan done) will vary. Somtimes it is staffing issues. It is hard to say but if they a reputable lender you will have your package inplenty of time. Just like an e-mail all they have to do is press send and it will be there.

Answer 2

Don't be surprised if that paperwork shows up mid-day Thursday. For some reason mortgage underwriters seem to wait until the last possible moment to provide paper. As a real estate broker, I see such situations time and time again. No one ever has a plausible explanation, but the practice continues.

Keep your patience !

Answer 3

Well, as I have already explained to you, there are other people closing right now and yours could be at the bottom of the pile. Also, they could have it right now, you did call an hour ago and a lot could have happened by then. I promise you that you will sign your papers at 9:00 a.m. Thursday morning and it will close by EOB that day. Or, you could sign tomorrow at 2:00 and it'll close within 24 hours subsequent to your signing.

Answer 4

as right this moment via fact the deal fell by you will probable desire to have the ability to get it decrease back unquestionably away assuming it replaced into now no longer an earnest money deposit. If it replaced into an earnest money deposit you will probable now no longer have the ability to based on the words of your grant to purchase the valuables. least difficult way is to talk to the guy you gave the money to and ask for it decrease back.