Hi Everyone,
I have been endlessly searching this board for almost a year now, and it seems that we may be close to closing our purchase. I have enjoyed reading about everyone's home buying sagas, and decided to share my own.
We looked at several houses over the course of 9 months for a house in San Diego county, and finally had an accepted contract on a short sale in mid-September. Went through the whole short sale negotiations, and started escrow at the end of October. Our projected close date was 12/7, but that isn't going to happen. Appraisal came in solid, and so did the home inspection. We have stalled in "conditional approval." All of our conditions were met, and then another round came in Monday 12/3. Those were satisfied the same day, and are currently waiting for the clear to close. Our close date has been pushed back to next Friday 12/14 and we are stressing out! Supposedly this is due to our mortgage company being severely impacted with loans looking to close by the end of year. Any validity to this?
We're pursuing a FHA loan because of the low down payment.... Can anyone comment on the timeline of closing within 7 business days? This seems like an impossible feat.
Thanks for reading!
