What takes the longest when you are in contract?

Like what aspect of the whole closing process holds things up or takes the longest????

Hypothetically if I was in contract or something

Re: What takes the longest when you are in contract?

I would say the Title Search

Re: What takes the longest when you are in contract?

Re: What takes the longest when you are in contract?

The title search is definately the longest...Supposedly it could take up to 2 months!!

We got lucky, ours was done within 2 weeks!!!

Message edited 11/9/2007 8:18:58 AM.

Re: What takes the longest when you are in contract?

The bank commitment took the longest for us b/c we missed the first bd of director's meeting b/c the appraisal wasn't done in time. Out title search only took 2 weeks.

Re: What takes the longest when you are in contract?

In our case it was boundary line issues resulting from the survey - some of our neighbors have fences/sheds partially on our property.

Re: What takes the longest when you are in contract?

Many questions Kathleen! LOL. The title search didn't take that long at all for me, in fact they did it super quick. But that may be a NJ thing.

Honestly, it can be a multitude of things.

Re: What takes the longest when you are in contract?

the title report once ordered only takes 2 weeks to come in. what takes long is if there are problems with the title that need to be negotiated or if permits/CO's need to be applied for.

good luck kathleen...ya know, just in case you were under contract or something like that.

Message edited 11/9/2007 11:50:57 AM.

Re: What takes the longest when you are in contract?

Title was awful for us. We couldn't get clean title, the seller fought it, saying they were able to, so we should be able to. We ended up hiring a second title company (still couldn't get clean title) then we had the property surveryed - which showed the boundary didn't match match on the title and deed ...then we hired a lawyer, fought some more and finally (after 6 months and lots of $$$!) got it straighten out and closed.

Re: What takes the longest when you are in contract?

The title can take very very long. If there are property line or C/O issues even longer. It's a true nightmare, everything moves really fast or takes forever... It's like watching paint dry

Re: What takes the longest when you are in contract?

Message edited 11/14/2011 10:12:19 PM.

Re: What takes the longest when you are in contract?

I just closed yesterday on my house and the mortgage had problems. Because of this market, they give mortgages, but are very picky about it.

Re: What takes the longest when you are in contract?

Posted by bigtrux707

The title can take very very long. If there are property line or C/O issues even longer. It's a true nightmare, everything moves really fast or takes forever... It's like watching paint dry

Re: What takes the longest when you are in contract?

the lawyers. they usually slow the process up. Our attorney in fact said that if it was moving too fast to let him know as he would slow it down.

Message edited 11/10/2007 5:01:50 PM.

Re: What takes the longest when you are in contract?

Posted by Stefanie

Posted by bigtrux707

The title can take very very long. If there are property line or C/O issues even longer. It's a true nightmare, everything moves really fast or takes forever... It's like watching paint dry

This was our dilemma.
All you want to do is get into your house and start unpacking and you have to wait until everyone else moves...which is in slow motion BTW....

Re: What takes the longest when you are in contract?

Funny, the appraisal process took forever for us. The first one came in under the selling price. Based on the comps in the area that were selling way lower than they would have in spring because of the market.

Second one was a week later with a different appraiser but he refused to release the report till he had his money in hand. Then we finally got the report, this time coming in higher. But then found out that he didn't inspect the house himself - he sent his 'associate' who wasn't approved with the bank.

So then the bank had to approve the new guy, with his resume, license, etc. That took another few days of fighting and emailing.

Ironically, the only thing that went right was the C/O stuff and title. They had every piece of paper you would ever want on what was done to the house and it was all 100% right.

And I wish you hypothetical good luck.