Ok Folks…
Please list all your unique closing experiences here!
I’m not sure if this is unique. We signed the papers on Tuesday November 21 for the closing. Financing was not a problem. The problem was the title company that’s owned by the Bank (Bank owned Property and title company). All the items were completed HUD sheets, down payment, closing cost, and the Title company rep flew in for signing, but we still today Wednesday, November 29. they have not transferred title. We have the keys and have done demo and some painting. This is our 1st Bank Owned purchase it just seems strange. The Realtor and Loan officier has contacted Title Company and they keep getting the run around. And if they don’t transfer our bank will make us sign the papers over because of the new month.
Is this an experience or what? ???
I had a loan go belly up 5 days before closing. The lender was late getting the condo questionaire to the property manager. They didn’t like the owner occupancy ratio.
I had to take cash advances on all my credit cards and borrow 10k from my mother to pay for the place for two months while i found alternate financing. Fortunately, I did.
My FICO dropped about 80 points for three months with all those cards loaded up. If that would have been my first deal, I never would have invested again. Scary.