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Bebalina
<3
Member since 6/05 2922 total posts
Name:
N
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when is a closing date given to u>?
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Posted 7/27/05 4:14 PM  |
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Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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Re: when is a closing date given to u>?
thats what we're waiting for..
You need to have your mortgage committment, and your appraisal, and when the title comes in it has to be cleared by the bank attorney. -- then you get a closing date!
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| Posted 7/27/05 4:16 PM |
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Bebalina
<3
Member since 6/05 2922 total posts
Name:
N
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Re: when is a closing date given to u>?
Posted by raken40
thats what we're waiting for..
You need to have your mortgage committment, and your appraisal, and when the title comes in it has to be cleared by the bank attorney. -- then you get a closing date!
ooooooooo i have no clue how this stuff works! thanx!
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| Posted 7/27/05 4:18 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: when is a closing date given to u>?
Getting the committment doesn't mean you get a closing date right away either.
Because the commitment letter usually has "conditions" that have to be met before you are officially "clear to close".
Once the conditions are met... then it goes into the bank's attorney for review... and they are the ones that will try to set the closing date with all the parties.
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| Posted 7/27/05 9:04 PM |
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Sassy2611
My Ray of sunshine
Member since 5/05 1101 total posts
Name:
Sarah
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Re: when is a closing date given to u>?
Mine was given to me when we went to contract. It was changed once but now it is set.
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| Posted 7/27/05 9:35 PM |
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raken40
soooo in love:)
Member since 5/05 4369 total posts
Name:
Karen
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Re: when is a closing date given to u>?
Posted by DjPiLL
Getting the committment doesn't mean you get a closing date right away either.
Because the commitment letter usually has "conditions" that have to be met before you are officially "clear to close".
Once the conditions are met... then it goes into the bank's attorney for review... and they are the ones that will try to set the closing date with all the parties.
what kind of "conditions"?
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| Posted 7/28/05 7:43 AM |
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MrsB
LIF Toddler
Member since 5/05 491 total posts
Name:
Andrea
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Re: when is a closing date given to u>?
We are at the bank's attorney stage right now. I wish that it would move a bit faster BUT... I guess I have to understand that I am not the only person buying a house at this time... 
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| Posted 7/28/05 8:17 AM |
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MsG
Should be working
Member since 5/05 2824 total posts
Name:
G
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Re: when is a closing date given to u>?
We got the date about a week before. 6 days before to be exact.
We had to meet conditions like showing a year's worth of insurance, verifying income (again!) with recent paystubs, and showing rent receipts.
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| Posted 7/28/05 8:18 AM |
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cjb88
Little Brother
Member since 5/05 3540 total posts
Name:
C
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Re: when is a closing date given to u>?
our "on or about date" was july 13th... we are still waiting for our real closing date!!! 
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| Posted 7/28/05 11:06 AM |
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LisaW
Time for me to FLY!
Member since 5/05 13199 total posts
Name:
Did I ever tell you that I hate people?
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Re: when is a closing date given to u>?
The date on our contract was "on or about" July 1. We closed yesterday, and we found out last Friday!
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| Posted 7/28/05 11:38 AM |
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dengal
Dad of Twins
Member since 5/05 1385 total posts
Name:
The 80's Man
Let's Go Mets!
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Re: when is a closing date given to u>?
You won't get an *exact* date until it gets close.
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| Posted 7/28/05 12:00 PM |
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Kelly
LIF Adolescent
Member since 5/05 681 total posts
Name:
This is it
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Re: when is a closing date given to u>?
What happens on the closing date?
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| Posted 7/28/05 12:41 PM |
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MrsERod
Praying for Everyone.
Member since 5/05 26170 total posts
Name:
MrsERod™®
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Re: when is a closing date given to u>?
Posted by dengal
You won't get an *exact* date until it gets close.
exactly.
at contract, you get an "on or about" date. then once you've been "clear to close", and the attorney's, seller, mtg co, work out their schedules, a definitive closing date is then set.
hth
Message edited 7/28/2005 12:45:56 PM.
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| Posted 7/28/05 12:45 PM |
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Redhead
You Live, You Learn
Member since 5/05 31871 total posts
Name:
Jennifer
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Re: when is a closing date given to u>?
Posted by Kelly
What happens on the closing date?
you OWN the house
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| Posted 7/28/05 12:46 PM |
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DjPiLL
Member since 5/05 3664 total posts
Name:
Richard
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Re: when is a closing date given to u>?
Posted by raken40
Posted by DjPiLL
Getting the committment doesn't mean you get a closing date right away either.
Because the commitment letter usually has "conditions" that have to be met before you are officially "clear to close".
Once the conditions are met... then it goes into the bank's attorney for review... and they are the ones that will try to set the closing date with all the parties.
what kind of "conditions"?
Oh damm... i can't remember what some of my conditions were. Stupid things. Like you had to verify a few things that you placed in the loan app. The appraisal had to be good. Almost every committment letter has conditions.
They give you the committment letter "with conditions" to help speed up the process cause there are a lot of things that need to be done that require the committment letter.
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| Posted 7/28/05 5:32 PM |
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