Getting a closing date

How long does it take to get a closing date after the contracts are signed? Who gives the closing date the lawyers or the bank?

Re: Getting a closing date

Have you had your engineer in yet? The bank will coordinate with the title company and the lawyers and all involved. Have you done your mortgage yet? You still have a bit of time before you close. I would say anywhere from 30-45 days.

Re: Getting a closing date

The contracts just got signed yesterday. The engineer was done already. We are going to go to the bank this weekend for the mortgage.

Re: Getting a closing date

I would say at least 30 days-45 days. The lawyers will pick a closing date once your lawyer has gotten clearance from the bank that they are clear to close. The sooner the bank is ready the sooner you can close. Of course there can always be something that comes up on title that could delay the closing even if the bank is ready, and technically neither party has to close until 30 days after the one or about date in your contract--so if your closing date in the contract is july 30, the sellers or you could delay the closing until aug 30th

Re: Getting a closing date

Before we lost the house we had an accepted bid on (higher offer at last minute), my broker said that there should be a date in the contract that says on/ before, but then they still have 30 days from then. Is the house vacant?

Re: Getting a closing date

You can close up to 30 days after your on or about date.

We closed 10 days after and got our closing date less than a week before. Our house was vacant but, an issue cropped up a week before the on or about date with property lines after the survey is done. Then - we had to wait until both lawyers were available at the same time for the closing.

Re: Getting a closing date

The on or about date in the contact is a total joke most of the time. I never go by this.

Usually you don't get your actual closing date until 90-120 days after the contracts were signed. Banks always hold things up.

Re: Getting a closing date

My friend signed the other day and she moves in september.

Re: Getting a closing date

We will be closing almost exactly 2 months after our contracts were signed (four day before the closing date on the contract) , but the property had no outstanding issues and we have excellent credit and were putting at least 20% down.

Message edited 6/19/2008 9:04:47 PM.

Re: Getting a closing date

the loan approval process on a purchase is normally 60 to 90 days

Re: Getting a closing date

We signed contract end of May, got our mortgage commitment on Monday and still don't know when our closing date will be. our on or about date is July 1 so Im guessing sometime before Aug 1..wish I could be more specific than that because i want to move already!