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Established Member
Posts: 34
Registered: ‎03-14-2013
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Clear to Close - Is the house mine?

Hi all,

 

I've received a clear to close on a FHA loan and am now waiting for a closing date...

 

I've waited until now to tell my current landlord, friends, etc that I'm getting a house and am wondering if its essentially "in the bag" now? Assuming I've got the money needed for closing and dont apply for additional credit, is now a safe time to "assume" I'm going to close and tell my landlord I'm moving out?

 

I'd also like to buy some things for the house so that I'll have them when I get the keys... I don't mean with credit, but with cash from my bank account -- separate from closing funds. Is it safe?

 

What are the odds that my loan would fall through this late in the game? Thanks!


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Posts: 7,225
Registered: ‎09-16-2011
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Re: Clear to Close - Is the house mine?

Yes! The house is yours... 

 

You still have to wait til after closing to buy any furniture etc though, so don't go out and apply for credit or loans.


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Posts: 43
Registered: ‎03-19-2011
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Re: Clear to Close - Is the house mine?

Short of a natural disaster, nuclear war, or alien invasion, the house is yours.

 

That said...I would hold off buying anything until after closing.  You don't know what might come up and while hey give you an estimate on closing costs, and while rare, it is an estimate.  Your title company will give you your actual costs a few days or so before closing.

 

My advice...keep your money and then celebrate your closing with a shopping spree!

 

Congratulations!

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Registered: ‎04-15-2009
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Re: Clear to Close - Is the house mine?

I like to add that you're good just hold off on any new purchases until you settle.  However, if the zombie apocalypse happens then you're SOL>


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Posts: 97
Registered: ‎10-28-2012
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Re: Clear to Close - Is the house mine?

Actully its yours to make payments on. But the Bank owns it.

 


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Established Contributor
Posts: 546
Registered: ‎12-28-2012
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Re: Clear to Close - Is the house mine?

Yes, you should be fine. When do you close? I was told by my LO I could buy anything I wanted as long as use cash and didn't establish new credit. Check with your LO about purchases with cash and happy shopping.
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Re: Clear to Close - Is the house mine?


playboy wrote:

I like to add that you're good just hold off on any new purchases until you settle.  However, if the zombie apocalypse happens then you're SOL>


lol :smileyhappy:

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