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The Water Cooler
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Home "Closing" ?
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<blockquote data-quote="Slack" data-source="post: 1306209" data-attributes="member: 13947"><p>Me and my business partner own several rent houses, so I have gone to quite a number of closings in the last few years. Every time I wonder to myself why it seems like it is the first time all the parties involved have ever done this.</p><p></p><p>Then again there seems to be a high turn over on the banker's side, so maybe it is their first time :-)</p><p></p><p>Nothing ever seems to go completely wrong, but it is obvious that the lenders and the title company put everything off until the last minute. Best as I can tell it only takes about 1.5 days to get everything together for a closing and they start about 2 days before. So if anything is messed up it screws everything up.</p><p></p><p>Take your time and understand everything. If you have questions, then ask them. Closing is the time to get it figured out. I have had minor issues with things being wrong and we get them fixed. Start harrassing the title company at least a week before for some "final" numbers. These numbers should not change on closing day except for few dollars here and there due to day to day prorated insurance, taxes, etc.</p></blockquote><p></p>
[QUOTE="Slack, post: 1306209, member: 13947"] Me and my business partner own several rent houses, so I have gone to quite a number of closings in the last few years. Every time I wonder to myself why it seems like it is the first time all the parties involved have ever done this. Then again there seems to be a high turn over on the banker's side, so maybe it is their first time :-) Nothing ever seems to go completely wrong, but it is obvious that the lenders and the title company put everything off until the last minute. Best as I can tell it only takes about 1.5 days to get everything together for a closing and they start about 2 days before. So if anything is messed up it screws everything up. Take your time and understand everything. If you have questions, then ask them. Closing is the time to get it figured out. I have had minor issues with things being wrong and we get them fixed. Start harrassing the title company at least a week before for some "final" numbers. These numbers should not change on closing day except for few dollars here and there due to day to day prorated insurance, taxes, etc. [/QUOTE]
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