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Gigi143
LIF Toddler
Member since 6/12 435 total posts
Name:
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"On or about date"
Does anyone know how strict that date is? We went to contract in January, when we signed, the on or about date was 2/15, I knew that was never going to happen, but I was told you had to basically close within 30 days of that date. Is this true? I don't want to have to resign contracts or anything I called my attorney and my broker and no one seems to answer their phone or call me back, but that's a whole other post.
I am just getting worried because the house is sitting empty since last September when the owner died, the son is eager to sell and I am eager to move! We are all about ready and I was really hoping 3/15 would be our closing date. We got our mortgage commitment, met all the conditions set forth and now it's been 2 weeks since that happened. I know it can be longer, I am just worried about that date that was on the contracts.
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Posted 3/12/13 3:17 PM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: "On or about date"
I have rarely had a deal close on the on or about date
the 2/15 date is that plus 30 days
who is holding up the closing? the seller?
are you clear to close?
is the rate locked? I love to use a rate lock to push a closing
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| Posted 3/12/13 4:11 PM |
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ElizaRags35
My 2 Girls
Member since 2/09 20494 total posts
Name:
Me
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Re: "On or about date"
Our OOAD was Halloween and we closed on October 21st.
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| Posted 3/12/13 4:17 PM |
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Gigi143
LIF Toddler
Member since 6/12 435 total posts
Name:
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Re: "On or about date"
Posted by Beth
I have rarely had a deal close on the on or about date
the 2/15 date is that plus 30 days
who is holding up the closing? the seller?
are you clear to close?
is the rate locked? I love to use a rate lock to push a closing
I didn't think it would close on that date, I don't know if it is that date plus 30, I am not sure of the days behind it and nobody has called me back!!
I am not sure, I want to say it's actually the lender, the seller is eager to sell, it was his mom's house, and is currently vacant, I know he wants to be done with it!
We are waiting for the clear to close I guess, it's been a month since we got our mortgage commitment and met all thee conditions of the commitment. I called my mortgage broker, but I don't want to be a PITA and she hasn't called me back yet.
We haven't locked in yet, she told us she isn't locking us in until we get a closing date. It's just super frustrating! I know in real estate terms it hasn't even been that long, but I am very annoyed that none of the people that I am working with are calling me back to answer these questions!
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| Posted 3/12/13 4:20 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: "On or about date"
the 2/15 is really 3/15
but the bigger issue is why isn't anyone calling you back?
if you cleared all your conditions - you need to be a pain in the ass- If I was your agent I would be calling them daily to find out what was going on
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| Posted 3/12/13 4:25 PM |
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Gigi143
LIF Toddler
Member since 6/12 435 total posts
Name:
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Re: "On or about date"
Posted by Beth
the 2/15 is really 3/15
but the bigger issue is why isn't anyone calling you back?
if you cleared all your conditions - you need to be a pain in the ass- If I was your agent I would be calling them daily to find out what was going on
That's what I was thinking, which is fine, but it's already 3/12 and I just didn't know if anything happens if you go 30 days past that date.
I cleared all the conditions within 15 minutes! I am on top of it, I tried to get everything done.
I am super annoyed with everyone that I used in this whole process. I like to be involved and know what's going on, I am not a person to sit back and wait for things to happen, I make them, so it's super hard for me to sit back and let someone else take the lead. I think a lot of issue is the relator I used is a friend of mine, the broker and attorney are people who she works with all the time, so I feel like they are expecting her to kind of take over where they slack or for her to tell me everything, but on the other hand they tell me not to listen to anything she says.
I haven't heard from my attorney since we signed the contracts. As far as I know he has the title, but it's annoying that he didn't even send me an email letting me know that he got it. lol sorry this turned more into a rant than anything.
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| Posted 3/12/13 4:30 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: "On or about date"
basically if you don't close friday the seller can send a letter demmanding you close with in 30 days
usually the attorney works it out before the letter is sent
I sell houses to my friends all the time- they don't get a lesser level of service
if the people I worked with all time were mis- treating my friend I would be raising hell
Is your friend a full time realtor?
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| Posted 3/12/13 4:36 PM |
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Gigi143
LIF Toddler
Member since 6/12 435 total posts
Name:
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Re: "On or about date"
Posted by Beth
basically if you don't close friday the seller can send a letter demmanding you close with in 30 days
usually the attorney works it out before the letter is sent
I sell houses to my friends all the time- they don't get a lesser level of service
if the people I worked with all time were mis- treating my friend I would be raising hell
Is your friend a full time realtor?
I am okay with that, lol. I was hoping for Friday. I know the sellers agent is always texting and calling my realtor to ask what is going on, so I know they definitely want to close.
She is not a full time realtor, she's been doing it for five years, she is a retired cop, I was hoping that would work in my favor and she would be aggressive since I can't be, not the case. I am going to call my attorney again and see if he answers or calls back. I really don't want to be a pain, but I feel like at this point something should have happened. I really feel my broker only contacts me on Mondays, if I don't hear from her on a Monday, i don't hear from her until the next week. Super frustrating.
Thank you for taking time to answer me! I appreciate it. This is my first time going through this process and I definitely feel like they should have been more hands on
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| Posted 3/12/13 4:39 PM |
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lucky1007
My Princess is Here!
Member since 11/11 1131 total posts
Name:
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Re: "On or about date"
my on or about date was march 1, I have closing scheduled mar 19
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| Posted 3/13/13 11:29 AM |
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Gigi143
LIF Toddler
Member since 6/12 435 total posts
Name:
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Re: "On or about date"
This is making me more frustrated. I called both lawyer and broker yesterday, I haven't heard anything. We have to be out of our apartment come April 1, at this point I don't know what to do!! I am so angry and I don't know what is holding what up. The broker told me once we got all the paperwork to the bank it could be 15 to 30 days. The thing is I know she used Continental and I've heard nothing but good things about them, I am calling her again to reiterate that I have 2 weeks to move out, so I either need a closing date or I have to dip into savings to rent an apartment, something I do not want to do.
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| Posted 3/13/13 1:00 PM |
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jlk51496
Mom of 3 - YIKES! =)
Member since 10/09 6758 total posts
Name:
Katie
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Re: "On or about date"
My on or about was March 1st
Still haven't heard what our move out date is....so frustrating!!!
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| Posted 3/13/13 2:39 PM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: "On or about date"
Posted by Gigi143
Posted by Beth
basically if you don't close friday the seller can send a letter demmanding you close with in 30 days
usually the attorney works it out before the letter is sent
I sell houses to my friends all the time- they don't get a lesser level of service
if the people I worked with all time were mis- treating my friend I would be raising hell
Is your friend a full time realtor?
I am okay with that, lol. I was hoping for Friday. I know the sellers agent is always texting and calling my realtor to ask what is going on, so I know they definitely want to close.
She is not a full time realtor, she's been doing it for five years, she is a retired cop, I was hoping that would work in my favor and she would be aggressive since I can't be, not the case. I am going to call my attorney again and see if he answers or calls back. I really don't want to be a pain, but I feel like at this point something should have happened. I really feel my broker only contacts me on Mondays, if I don't hear from her on a Monday, i don't hear from her until the next week. Super frustrating.
Thank you for taking time to answer me! I appreciate it. This is my first time going through this process and I definitely feel like they should have been more hands on
Your attorney should be calling you back and if he/she is not it is a violation of the code of ethics. I would be screaming. I have a 24 hr rule on all calls/emails. If I don't call back personally soemone will (admin etc)
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| Posted 3/13/13 2:55 PM |
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JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
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Re: "On or about date"
I would continue to call/email the broker as it appears that is where the problem lies. Using a good mortgage person is SO important in the home buying equation. You should certainly have your realtor/friend pressing the issue with the mortgage broker as well.
Hope you get some answers soon!
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| Posted 3/13/13 3:59 PM |
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Gigi143
LIF Toddler
Member since 6/12 435 total posts
Name:
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Re: "On or about date"
Thanks. I finally heard from the broker, she was calling the bank to see what was going on. Hopefully we get a closing date this week and close next week the latest. I just can't wait for this process to be done with!!
I still haven't heard from the attorney, supposedly this is normal. I understand these people do these things everyday and know what is going on, but this is my first time buying a house and I feel like I should have been informed, or at least kept in the loop or updated at least once a week just so I know that they are working on it and didn't forget me.
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| Posted 3/13/13 4:07 PM |
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Re: "On or about date"
A closing date can't be scheduled until your lender clears the file to close. It sounds to me like that is the hold up.
I think it's inexcusable for your lawyer, real estate agent, etc. to be out of contact and not respond to your inquiries.
However, it sounds like the hold up is with your lender. In my experience, Continental is usually pretty quick and my clients have had all been satisfied with the customer service, but you definitely need to stay on top of it until you find out why your file isn't cleared yet. It can be frustrating for a seller who is waiting for a buyer's bank to give the green light to close, but as the buyer, you at least have a bit more control and more contact with your lender.
Your loan officer should be in contact with the underwriter reviewing the file, and should be able to tell you what items are outstanding that need to be taken care of to clear the file, and how long this should take.
Is this a standard mortgage you are getting, or are you doing a specialty type loan, such as a 203(k)?
I would also ask your attorney if there is any other obstacle to closing once the file is cleared by the bank. For example, are there any title issues? Is he waiting on a survey?
Hang in there! Sounds like you are almost at the end. But sometimes, unfortunately, the squeaky wheel gets the oil. So keep calling and demanding answers, and don't stop until you get it.
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| Posted 3/13/13 6:10 PM |
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