cancel
Showing results for 
Search instead for 
Did you mean: 

The irony

tag
basballguy
Frequent Contributor

The irony

Oh how many times have I seen people with a closing date set only to have the bank miss it?  Only I would have a clear to close and no closing date from the builder.  I guess it's still good news though. 


Message 1 of 5
4 REPLIES 4
ShanetheMortgageMan
Super Contributor

Re: The irony

What is left for the builder to do?  Usually once the home is complete they look to sell it as soon as they can.  The lender usually doesn't give the clear to close until the home has been completed (and the appraisal shows it to be).

Free Mortgage Advice & Pre-Approvals (FHA, VA, USDA, Fannie, Freddie, Non-Prime, Construction, Renovation/Rehab, Commercial) since 2002
Located in Southern California and lending in all 50 states
Message 2 of 5
basballguy
Frequent Contributor

Re: The irony


@ShanetheMortgageMan wrote:

What is left for the builder to do?  Usually once the home is complete they look to sell it as soon as they can.  The lender usually doesn't give the clear to close until the home has been completed (and the appraisal shows it to be).


They ordered the appraisal before the walls were even painted....which would account for some inaccuracies in it i guess lol.  I guess much of what's left is exterior...drive way, landscaping, fence.  I haven't been by there in a week or so but at last trip carpet, hardwood, final painting skip trowel, etc hadn't been done yet. 

 


Message 3 of 5
DallasLoanGuy
Super Contributor

Re: The irony

this is a good thing... the lender is done except for a final inspection I am sure....

just sit tight and wait on the builder.... loan stress is over

 

Retired Lender
Message 4 of 5
Christian123
New Contributor

Re: The irony

Our house was finished 2 weeks ago, appraisal last Thursday, clear to close yesterday and we closed on time today Smiley Happy

Starting Scores 3/10---EQ 495, TU 505
5/13- EQ 720, TU 722, EX 696(Lender Pull)
Gardening since 5/2013 until 3/2014
Closed on dream home- 12/17/13
Message 5 of 5
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.