No title work yet...

[MrChairman]

The hits just keep on coming. My lender and I decided to switch title companies because the one I had picked informed us Thursday night they couldn't do the closing until Aug 8. My lender wants to close 31 July. My LO called up and left NVR Settlement Services a message so they could perform the closing. Lender states they haven't recieved the title work from NVR as of yet. Is a July 31 closing still possible? How long does it really take to get the settlement docs ready to be signed? I figured it should be simpler since NVR owns Ryan Homes and the title company. Anyone have experience with title docs not being ready so closing to a projected closing date?

[superfrustrated]

that is definitely a rush however it can be done.  I do not know what state you are in, and that does play a big part in it.  I also find it odd that the prior company you selected 'cannot be ready until 8/8' - that doesnt sound right to me, at all.  I am in Virginia and worked at a title company for 10 years (until very recently actually) and yes, it would be possible to turn around a closing that quickly.  It is definitely a rush, however, NVR settlements IS basically Ryan Homes so if anyone can turn it around quickly, they can.  Also, I can tell you that your LO is SOOOOO going to push this to close because he NEEDS your closing to be on 7/31 in order to get paid!  As sad as it is, many decisions lenders make are all based on THEIR paycheck. 

I will say that I am surprised they didnt try to get you to close at NVR from the beginning by offering you a closing cost credit to do so....

[MrChairman]

super,

I got a $7500 closing cost credit from NVR but didn't have to use their lender to get it. NVR told me a while back that I couldn't use their settlement company because they only did settlements for NVR Mortgage clients. Now they can do the settlement. I'm guessing they told me this to attempt to strong arm me into using NVR Mortgage. Also, I'm sure your right about my LO wanting a closing on the July 31. I told him I wanted to close sometime in August and his heart about dropped out of his chest. So hopefully he can put a rush on this and this process can be over for me this week.