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itsbabytime
LIF Adult
Member since 11/05 9644 total posts
Name:
Me
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Closing date in Contract question...
How far off from your actual closing was the closing date in the contract? Also, if it was off - whose "fault" was it? Who set the closing date? Did you have flexibility with setting it? How far in advance did you know and why does it seem to be so close to the date?
TIA!
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Posted 9/4/11 2:54 PM  |
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Mill188
LIF Adult
Member since 3/09 3073 total posts
Name:
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Re: Closing date in Contract question...
Our closing date was on or before October 15. We closed October 6.
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| Posted 9/4/11 5:15 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: Closing date in Contract question...
I think ours was on or about Dec 15 and we closed on the 27th.
The bank actually sets the date with the other attys. Ours was when it was due to the bank getting everything approved.
Don't expect it to be the exact date in the contract....that rarely happens
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| Posted 9/4/11 5:30 PM |
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-Lisa-
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Member since 5/05 6530 total posts
Name:
Lisa
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Re: Closing date in Contract question...
On our 1st house, we closed on the contract closing date.
On our 2nd house we closed on 8/12 (contract date was 8/15) but all parties had agreed to close on 8/8 and our buyer's bank attorney delayed us because he wasn't available that day (we had 2 closings on the same day for our sale & purchase)
The bank/lawyers agree upon a date once you're "clear to close". Generally speaking the contract date is a ballpark date ("on or about"), and you can close 30 days before or after. Our date was "set" less than a week before the actual closing.
Message edited 9/4/2011 7:36:55 PM.
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| Posted 9/4/11 7:34 PM |
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NewYawkah
2012--A year of new beginnings
Member since 5/05 4402 total posts
Name:
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Re: Closing date in Contract question...
Our on or about was Nov 30... we closed MARCH 30. It was a nightmare. The homeowners lied about having C/Os for everything and ended up having to get a variance for some of the improvements they'd made to the house.
Then, once they applied for the C/Os they had to bring a lot of things up to code, which took forever.
We had to extend the bank committment many times, lost our rate of 4% (ended up with 4.75!! :( GRRR)
Many of my friends have closed without any problems though.
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| Posted 9/4/11 7:59 PM |
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smooney
Hidey Ho!
Member since 2/10 1669 total posts
Name:
.
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Re: Closing date in Contract question...
ours was on or before june 15. we closed june 15. it was the sellers hold up. they decided that they were going to take a vacation the first week in june and then felt rushed about packing... 
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| Posted 9/4/11 8:55 PM |
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Charly
LOVE!
Member since 5/05 12578 total posts
Name:
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Re: Closing date in Contract question...
closing date in contract was on or before July 18th. We closed August 10th.
It was 100% our buyers fault. Their attorney (a friend) was completely incompetent and forgot to call the bank attorney, order the municipals, etc. Nightmare
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| Posted 9/4/11 9:00 PM |
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bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
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Re: Closing date in Contract question...
ours was on or about dec 15. we closed dec 29.
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| Posted 9/4/11 9:54 PM |
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JDubs
different, not less
Member since 7/09 13160 total posts
Name:
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Re: Closing date in Contract question...
well our sellers took a month to sign the contract and our closing was supposed to be 2 months later but we actually closed more than 3 months later (seller kept putting it off so that their daughter could finish out the school year)
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| Posted 9/5/11 6:39 AM |
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