MJ & Mack's Real Estate Blog

I happen to be a fan of Adele…
This weeks office meeting was very informative …we had a great speaker… from our mortgage department… It was quite an eye opener … the new CLOSING EXPECTATIONS…   

You may have recently experienced the unforseen closing… almost there… need one more thing…we hope to close tomorrow…

The take away was setting the expectation from the get go…

Today, you must take into consideration the days it takes to negotiate between buyer and seller…. why…

The average closing runs about 30 – 45 days… BUT did you know that when it comes to the loan process that DAY ONE is the day when the buyer commits to the loan… that’s when the clock starts ticking..this is the time it takes for the loan to be processed until ready to close.   The effective date of the contract and the day when your loan begins the processing can vary..

The clock continues to tick in balance to the buyers completing all the necessary paperwork… it seems endless … but when that documentation is presented UP FRONT… it helps to eliminate glitches at the end…

IMPORTANT TIPS 

Do not change jobs before you close… do not change your debt ratio… don’t go out and buy a new fridge..NOT YET… Schedule the necessary inpections you want immedialty after escrow… in case of any required repairs… this is the path for a smooth and timely closing.

Buyers… come prepared … technology today is great… make a copy of your tax returns, bank statements, drivers license, your social security card… put it on a flash drive..take it with you when you meet with your mortgage broker… it can make all the difference!

Getting back to Adele… think about the song  Set Fire to the Rain….hear the tune in your head…

I made an offer  …my new home….

I found it  … tired of searching

So stresssssed ….I was so hopeful…

until the deal …..was ….all …sealed…

my credit … rating great
and the inspections…. were all just o…kay …
my dreams …..have come true…
I …just… can’t …wait…

But there’s side to buying

that I never knew…never knew…

all the things loan officer says…that 

I never knew…never knew..

and all papers …that you need… 

always more…always MORE

But I set FIRE… to the closing…

all those copies…tax forms… pay…checks…

My employment verified…

I heard myself scream

Let it CLOSE…. it CLOSE…

Both realtors… working hard…
they are…  waiting….more …waiting…
It seems like… it’s taking …forever
you and me together
nothing is better. 

But there’s side to buying
 that I never knew… never knew…

all the things loan officer needs…

I never knew… never knew..

all those papers…that you need…

always more…always MORE…

I set FIRE …to the closing…
all those copies… tax forms…pay..checks…
My employment verified…
I heard the REALTORS scream
Let it CLOSE… it  CLOSE…

I set FIRE… to the closing… 
all those copies…tax forms…pay…checks
My employment verified…
 
I heard the screams …loan approved…

Last time… THE LAST TIME…

Sometimes I wake up screaming …

I felt something I’ve never felt…the house I found was waiting for me 

Even now I know its almost over
I can’t help myself….
from getting so ex..cited…

I set FIRE… to the closing…
Made all those copies…tax forms…pay…checks…
My employment verified…
I knew the deal was sealed…
It’s the last time …LAST TIME…

 I set FIRE… to the closing…
Made all those copies…tax forms…pay…checks…
My employment verified… 
I heard all the screams…
We are CLOSING….CLOSING… 

OHHHHHHH

Let it close… it close…
LET …IT… CLOSE!!! 

Many thanks our Coldwell Banker Mortgage speaker…  your information regarding the current time frame for closing procedures will help our buyers and sellers through the real estate process.

Working toward smooth closings…and a little humor…