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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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from contract to closing...
how long did it take you?
Also, how far off was your ACTUAL closing date, from the accepted offer closing date?
We are hearing from the sellers that they don't think they can close in time for us to make the tax credit (Nov 30). But we put a closing date of Nov 1 on the offer and they accepted that 
We have even expressed letting them stay a longer then the normal 5 days.
I don't get it. If you know a buyer wants to close on or before a date to get 8k why would you accept their offer with that closing date??
I told our agent that they can give us the 8K in cash at closing if they can't close by then  I'm sure they will love hearing that!
this is THE house! SO I won't walk away if we lose the 8k but its
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Posted 10/8/09 3:03 PM  |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: from contract to closing...
can they pay you "rent" for the time they are staying after the 11/30 deadline...my sil is doing this so that she can make the deadline...
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| Posted 10/8/09 3:08 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: from contract to closing...
Posted by MrsFlatbread
can they pay you "rent" for the time they are staying after the 11/30 deadline...my sil is doing this so that she can make the deadline...
we actually talked about this with them (our agent to their agent)prior to the offer "if" they weren't going to be able to get out in time. all we want is the mortgage and home owners ins. covered for the time they are there.
But I never know if this was actually discussed with the homeowner or the agent (theirs) was just trying to secure our offer so they said whatever sounded good.
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| Posted 10/8/09 3:26 PM |
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headoverheels
s'il vous plaît
Member since 6/07 42079 total posts
Name:
LB
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Re: from contract to closing...
we went to contract on June 22nd. our "on or about" closing date was September 1st - which, LEGALLY, meant that the sellers had until October 1st to close.
our mortgage was ready very quickly and we were ready to close by August 27th; they, however, were not. we agreed on August 31 so that we would not lose our rate and we agreed to allow them to stay in the house for an extra 14 days without charging them rent. they did leave $$ in escrow which we released when we did our final walk-through.
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| Posted 10/8/09 3:34 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: from contract to closing...
thanks LB. Its good to know they "legally" have 1 month. so when we go to contract wewant it to say Oct 30 instead of Nov 1, because if they go the extra month we don't get it
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| Posted 10/8/09 3:37 PM |
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CAMCaps
Live Laugh Love Run
Member since 6/07 4922 total posts
Name:
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Re: from contract to closing...
We too hope to make the November 30th deadline.
We are in contract right now. We were in official contract (finalized lawyer review) as of October 2nd. We had our inspection and appraisal yesterday.
Our lawyer originally had our estimated closing date as November 6th or 7th. Our bank said we should be able to close by October 30th. (We are pre-approved.)
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| Posted 10/8/09 3:51 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: from contract to closing...
I was out at the lindenhurst street fair on Sunday and Sen. Chuck was there and he said they are extending the tax credit....I heard it straight from his mouth.....but I will not believe it 100% until its passed.
We are in the same situation.....we are trying to close by the end of Nov. When you put a closing date in the contract it is an one or about date and it gives either party 30 days from that on or about date.....and it can even get pushed out further
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| Posted 10/8/09 3:56 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: from contract to closing...
Posted by CAMCaps
We too hope to make the November 30th deadline.
We are in contract right now. We were in official contract (finalized lawyer review) as of October 2nd. We had our inspection and appraisal yesterday.
Our lawyer originally had our estimated closing date as November 6th or 7th. Our bank said we should be able to close by October 30th. (We are pre-approved.)
you close in time too!!
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| Posted 10/8/09 3:56 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: from contract to closing...
Posted by alli3131
I was out at the lindenhurst street fair on Sunday and Sen. Chuck was there and he said they are extending the tax credit....I heard it straight from his mouth.....but I will not believe it 100% until its passed.
We are in the same situation.....we are trying to close by the end of Nov. When you put a closing date in the contract it is an one or about date and it gives either party 30 days from that on or about date.....and it can even get pushed out further
wow that's interesting! But until its in place I'm not counting on it!
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| Posted 10/8/09 3:57 PM |
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Re: from contract to closing...
fully executed contracts on 7/24. closed on 9/30. the original close date estimated on the contract was 9/22 so we didnt have to wait much longer past that date. we had a great "team" though and i made sure to contact at least one of them on a dailiy basis to make sure they were on their game (attorney, loan officer, realtor).
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| Posted 10/8/09 4:00 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: from contract to closing...
Posted by alli3131
I was out at the lindenhurst street fair on Sunday and Sen. Chuck was there and he said they are extending the tax credit....I heard it straight from his mouth.....but I will not believe it 100% until its passed.
If this is the case my lawyer better get his azz in gear and get me in contract for my house.
The sellers of the house I am buying too my offer over two other offers that came in higher because i'm NOT a first time homebuyer. Seller wants to be able to stay past Nov. 30th and obviously doesn't have to worry about that date with me.
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| Posted 10/8/09 4:12 PM |
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MaZz
* Lovin my baby girl!!! *
Member since 2/09 6243 total posts
Name:
Gina
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Re: from contract to closing...
We're still in the process right now... appraisal was apparently done yesterday but we have no idea how that turned out... We have an on or about date of Oct 30th, with a no later than Nov 30th clause... Ideally, we're hoping for mid Nov... I'll let you know as soon as I know...
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| Posted 10/8/09 5:51 PM |
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Nifheim
allo
Member since 1/09 5476 total posts
Name:
Jennifer
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Re: from contract to closing...
eh we were in contract three months ago and i think we will have a closing date in the next few days. Depends on the house, if things pop up during the title search, appraisal etc it can really stall.
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| Posted 10/8/09 7:01 PM |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: from contract to closing...
Full contracts signed 8/14. Closing date in contract "on or about October 15." Actual closing date 10/6.
You can ask to have the contract read "on or before" instead of "on or about." The on or before doesn't give them the opportunity to postpone the date.
The sellers of our home had an "on or before" date for the house they are buying. We had an "on or about" date in our contract to buy. We closed Tuesday but they are staying in the home until Saturday. They are paying us rent and we have money in escrow should something in the house break or they don't get out in time.
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| Posted 10/8/09 9:08 PM |
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Kristin616
Member since 8/06 3595 total posts
Name:
Kris
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Re: from contract to closing...
went into contract on july 22 & we closed september 5th.
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| Posted 10/8/09 9:35 PM |
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kahlua716
3 Girls for Me!
Member since 8/07 12475 total posts
Name:
Keri
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Re: from contract to closing...
We've been in contract since June.
Still waiting on a closing date 
Due, mostly, to a moron of a mortgage rep.
Our contracted closing date was July 15th.
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| Posted 10/9/09 11:03 AM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: from contract to closing...
Posted by Mill188
Full contracts signed 8/14. Closing date in contract "on or about October 15." Actual closing date 10/6.
You can ask to have the contract read "on or before" instead of "on or about." The on or before doesn't give them the opportunity to postpone the date.
The sellers of our home had an "on or before" date for the house they are buying. We had an "on or about" date in our contract to buy. We closed Tuesday but they are staying in the home until Saturday. They are paying us rent and we have money in escrow should something in the house break or they don't get out in time.
I was told not to do the on or before because if our mortgage company was to tie us up or something on our end, we are held liable then because we couldn't close. that's why they told us to do on or about. I actually had suggested doing on or before
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| Posted 10/9/09 11:21 AM |
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MrsFrizzle
<3
Member since 9/09 4628 total posts
Name:
Kristin
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Re: from contract to closing...
Our bid was accepted Aug 29 last year and we closed on Dec. 5 BUT we have a SonyMae loan so it took a little longer
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| Posted 10/10/09 3:19 PM |
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snowflake08
Love my boys!!!
Member since 8/07 5148 total posts
Name:
Laura
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Re: from contract to closing...
we signed our contract aug 26 and do not have a date yet
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| Posted 10/11/09 12:27 AM |
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BaroqueMama
Chase is one!
Member since 5/05 27530 total posts
Name:
me
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Re: from contract to closing...
We found the house and made an offer on February 1st, we closed on April 1st, exactly 2 months later.
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| Posted 10/11/09 12:40 PM |
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Jessah
I love my dogs :)
Member since 2/08 1344 total posts
Name:
Jess
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Re: from contract to closing...
lets see so far...
we made an offer in the middle of Aug(don't remember the exact date)
inspection-8/20/09
signed contracts-8/27/09
seller signed-9/2/09
appraisal came back on-9/28/09
still waiting for a closing date, seems as if it will take forever!!
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| Posted 10/11/09 4:32 PM |
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VickiC
Rocking the party
Member since 5/05 4937 total posts
Name:
Vicki
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Re: from contract to closing...
We made an offer the beginning of July and closed September 26th - 2 days after our on or about date. This was in 2007.
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| Posted 10/11/09 7:43 PM |
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snowflake08
Love my boys!!!
Member since 8/07 5148 total posts
Name:
Laura
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Re: from contract to closing...
Posted by TeamBurns
lets see so far...
we made an offer in the middle of Aug(don't remember the exact date)
inspection-8/20/09
signed contracts-8/27/09
seller signed-9/2/09
appraisal came back on-9/28/09
still waiting for a closing date, seems as if it will take forever!!
so funny Jess
we have almost the same dates on everything - hopefully we will both close soon!!!
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| Posted 10/11/09 9:59 PM |
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Jessah
I love my dogs :)
Member since 2/08 1344 total posts
Name:
Jess
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Re: from contract to closing...
Posted by snowflake08
Posted by TeamBurns
lets see so far...
we made an offer in the middle of Aug(don't remember the exact date)
inspection-8/20/09
signed contracts-8/27/09
seller signed-9/2/09
appraisal came back on-9/28/09
still waiting for a closing date, seems as if it will take forever!!
so funny Jess
we have almost the same dates on everything - hopefully we will both close soon!!!
we are going through it together :) I will be so happy when we both close haha
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| Posted 10/11/09 10:13 PM |
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HeatherRose
Life is Good :)
Member since 11/07 6605 total posts
Name:
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Re: from contract to closing...
Posted by TeamBurns
Posted by snowflake08
Posted by TeamBurns
lets see so far...
we made an offer in the middle of Aug(don't remember the exact date)
inspection-8/20/09
signed contracts-8/27/09
seller signed-9/2/09
appraisal came back on-9/28/09
still waiting for a closing date, seems as if it will take forever!!
so funny Jess
we have almost the same dates on everything - hopefully we will both close soon!!!
we are going through it together :) I will be so happy when we both close haha
It actually seems quick to me, lol! I thought the process takes much longer! good luck hope you close soon!
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| Posted 10/12/09 10:29 AM |
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