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2 Bumps

buying a house

Once you made a downpayment how long did it take to get in your new house? We made a downpayment on july fifth and the morgtage company is saying that they can't give us an exact date.

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MelSwim7

Asked by MelSwim7 at 1:47 PM on Sep. 7, 2010 in Home & Garden

Level 17 (3,417 Credits)
Answers (9)
  • The down payment was paid at closing. We paid Earnest money when we put our offer on the table and we closed 30 days after that. Not all sales go that fast, but I would think you would have heard something by now. Is the house a short sale?
    Courtney610

    Answer by Courtney610 at 1:50 PM on Sep. 7, 2010

  • No not a short sale and I meant the offer we made the offer on july 5th, first they told us that our closing date would be august 15, then I was told no later than sept 17 and today they say they can't give us an exact date
    MelSwim7

    Comment by MelSwim7 (original poster) at 1:52 PM on Sep. 7, 2010

  • Yes, is it a short sale? We put in an offer on a short sale and it took 93 days to get the approval from the seller's lender. We STILL haven't closed, because of the red tape of title searches and mortgage crap. Your realtor should have told you if it was a short sale.
    JawgaMom1

    Answer by JawgaMom1 at 1:53 PM on Sep. 7, 2010

  • Depending on the type of sale..

    Short sales take forever and no they can't give an exact date. It is a much longer process.

    Regular sales have to go through both attorneys, and the sellers.

    Good luck, and congratulations....

    KFree907

    Answer by KFree907 at 1:55 PM on Sep. 7, 2010

  • I just double checked with my husband and it is not a short sale
    MelSwim7

    Comment by MelSwim7 (original poster) at 2:06 PM on Sep. 7, 2010

  • Talk to your realtor in trying to get some answers because you want to know when to get the ball rolling on your end.

    musicmom08

    Answer by musicmom08 at 2:10 PM on Sep. 7, 2010

  • Our closing got moved back several times. It was originally scheduled for early Feb and ended up being late April. It can happen. I would ask what the factors are they are waiting on to get the closing to happen and see if there is anything you can do to help it along. Sometimes it is waiting on law offices to do things like verifying the deed that can just take a while that the mortgage company has no control over.
    riotgrrl

    Answer by riotgrrl at 2:27 PM on Sep. 7, 2010

  • I don't have any advice, sorry! I hope you close soon! I'll bump the question for you.
    Courtney610

    Answer by Courtney610 at 2:44 PM on Sep. 7, 2010

  • In today's market it can take months for loan approval AND funding- we are in the market for a second home d/t another job relocation, and have decided to rent for the next year. The thought of the loan and funding process is still fresh in our minds.
    Sisteract

    Answer by Sisteract at 7:39 PM on Sep. 7, 2010

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