Moving

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Zombie
Posts: 65
Joined: Fri Jul 06, 2012 11:21 pm

Moving

Post by Zombie » Sun Jul 22, 2012 4:33 pm

I'll be moving in a couple weeks with any luck. We put an offer in on a house over a month ago with a 30 day escrow. Escrow was supposed to close on the 20th but our realtor drug his feet and didn't get paper work in so the escrow is taking longer than it should. Hopefully it will close on the 3rd or 4th of august. He is a friend of my wifes family so I guess he thinks we aren't top priority, even though he still gets his commission and my mother-in-law is throwing in a free week at her time share in hawaii.

You would think he would be on the ball faster, right? lol. Anyway I'll have to take a week or two off of CS while we wait for utilities and internet to be turned on. As well as setting up all the new dog kennels and coyote proofing the yard.

sizzlin
Posts: 308
Joined: Sat Feb 06, 2010 8:06 pm

Re: Moving

Post by sizzlin » Sun Jul 22, 2012 10:34 pm

Sup Zombie,

As a Real Estate Broker and owner of a RE company, I will somewhat defend your realtor because once a house goes into escrow there isn't much a realtor does that can delay the closing of escrow (this is the lenders fault). Getting your offer accepted and getting you to sign all the disclosures (once they are sent from the listing agent) is all YOUR realtor's job, but honestly, once escrow opens, a realtor pretty much does nothing. This is where Title, Escrow and the Lender all take care of the rest of the process. 90% of the time, the delay of your house closing is due to issues with the lender and their underwriting department. Underwriters are always adding conditions to your loan throughout the escrow period and if your lender, title, or escrow doesn't take care of those conditions in time then the loan is delayed for funding, which means your escrow is delayed.


Anyhow, HURRY BACK :) :)
-Sizz
Zombie wrote:I'll be moving in a couple weeks with any luck. We put an offer in on a house over a month ago with a 30 day escrow. Escrow was supposed to close on the 20th but our realtor drug his feet and didn't get paper work in so the escrow is taking longer than it should. Hopefully it will close on the 3rd or 4th of august. He is a friend of my wifes family so I guess he thinks we aren't top priority, even though he still gets his commission and my mother-in-law is throwing in a free week at her time share in hawaii.

You would think he would be on the ball faster, right? lol. Anyway I'll have to take a week or two off of CS while we wait for utilities and internet to be turned on. As well as setting up all the new dog kennels and coyote proofing the yard.

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sammy
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Posts: 6393
Joined: Sat Oct 18, 2008 12:16 am

Re: Moving

Post by sammy » Mon Jul 23, 2012 10:43 am

see you soon buddy :D
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Evangelist
Posts: 520
Joined: Sat Oct 18, 2008 12:35 pm
Location: Dallas, TX

Re: Moving

Post by Evangelist » Mon Jul 23, 2012 11:12 am

As an owner of a house that went through a similar thing... yeah its the lender. They do this especially if its Chase bank. In my case, they dragged their feet to the point where the seller didn't almost want to sell to me because it was taking too long.
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slicky
Posts: 2593
Joined: Sat Oct 18, 2008 3:19 pm
Location: La Mirada, California

Re: Moving

Post by slicky » Mon Jul 23, 2012 3:23 pm

See ya soon!!
Evangelist wrote:As an owner of a house that went through a similar thing... yeah its the lender. They do this especially if its Chase bank. In my case, they dragged their feet to the point where the seller didn't almost want to sell to me because it was taking too long.
I'm pretty sure B of A dragged their feet more than Chase.
An most amazing 40cal admin yet.
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sizzlin
Posts: 308
Joined: Sat Feb 06, 2010 8:06 pm

Re: Moving

Post by sizzlin » Mon Jul 23, 2012 9:08 pm

slicky wrote: I'm pretty sure B of A dragged their feet more than Chase.
B of A is one of the worst banks to deal with for lending so I second that :lol: . Best bank I've worked with is Provident Funding and Wells Fargo.

Zombie
Posts: 65
Joined: Fri Jul 06, 2012 11:21 pm

Re: Moving

Post by Zombie » Tue Jul 24, 2012 6:56 pm

Yeah, talked to him more today and everything is in the hands of the investor and is waiting on the investor final inspection (hopefully that means it's close to closing, I have no idea what all this technical mumbo jumbo means lol). I hate playing this waiting game.

Zombie
Posts: 65
Joined: Fri Jul 06, 2012 11:21 pm

Re: Moving

Post by Zombie » Wed Aug 01, 2012 11:45 am

Got an update from our relator. The investor turns out to be Wells Fargo, and I guess they decided right around the time that our offer was accepted that the company didn't really want to be in the bank owned housing market anymore. So now things that should take a week are taking like 3 weeks to a month. Our escrow was supposed to close around the 20th of july and now he is saying that it probably wont close until next month.

Meanwhile we already gave our landlord 30 days notice. So now we have to hope that he will be cool and let us stay another month, which he probably won't do because he doesn't like us lol.

sizzlin
Posts: 308
Joined: Sat Feb 06, 2010 8:06 pm

Re: Moving

Post by sizzlin » Wed Aug 01, 2012 1:58 pm

Hey Zombie,

So are you purchasing a bank owned property or is it a short-sale? If it is bank owned and the property is owned by Wells Fargo, it shouldn't be a hard transaction. What do you mean by the "investor?" Are you getting your funds through a hard-money transaction (private investor) or are you going through a bank? FHA, VA, Conventional loan through an approved lender? No bank should say "we aren't lending on bank owned homes anymore" that doesn't sound right.

Wish I could help you more, but something just doesn't add up with the details I've read so far.

-Sizz

Zombie
Posts: 65
Joined: Fri Jul 06, 2012 11:21 pm

Re: Moving

Post by Zombie » Wed Aug 01, 2012 3:07 pm

Hey sizzlin,

Our relator keeps using the word "investor". We are getting a fanny may loan, Well Fargo is the bank that owns it, or I would have begged for a different bank to get the loan from lol. We gave our good faith money (almost 10k) over a month ago. I've been saying for the last 3 weeks that I think our relator has just been dragging his feet or isn't telling us something, but my wife and her mother are the ones that are talking to him.

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