Skip to main content

A nightmare closing day.

Sooo.. today was my closing day and it went awful. I’m going to try to keep this as brief as possible. But it may be hard.

I got a call from my agent (who’s actually my ex step mom) and she says there’s an issue with the appraisal. (Appraisal originally came in $100 over asking) Apparently the appraiser only submitted 2 comps and FHA wanted 3. The appraiser was non responsive and I had no clue until today. My closing was at noon, then got pushed to 3. Then didn’t happen at all. So now we’re awaiting to see if the comps they sent over are acceptable and if not we have to negotiate a lower price AND it may have to go through another appraisal which they want to charge me for. (Ffff that)

The seller is a single mom going through a divorce and she was supposed to close on her house and she couldn’t either.

This is nuts. I can’t believe this. So my agent says we’re shooting for a close tomorrow but right now I’m in a hotel and I am steaming. How could this process get so far along without any communication and/or a “hey let’s extend the closing date for a week?” Am I wrong for being absolutely warm about this? I realize that things happen during the closing process but this seems like absolute 11th hour horse shit.

submitted by /u/JimLahey567
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/mgvajl/a_nightmare_closing_day/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more