Rushing the closing always causes problems – Plymouth home buyer tips

Once or twice a year I have a buyer client that wants to rush the closing, this always causes problems.  Those closing always either go wrong or get the clients even more upset.  Here is what happens in the closing process for your Plymouth home.

Once you have all your mortgage documents in, the appraisal done we wait for the mortgage underwriter to review the documents and find out if they need anything else from you.  Once the bank approves everything they issue a clear to close.  Nothing can be done for closing under your mortgage company issues the clear to close.

Once the lender issues the clear to close, then the title company will allow us to schedule the closing on your Plymouth home.  I call you, the listing agent, and the title company.  I try to figure out a time that is convenient to everybody for closing.

That date usually has to be about 2 days out.  The bank needs time to get the closing documents together and send them to the title company.  The title company also needs time to figure out the final HUD.  The final HUD is the numbers document.  It shows what the buyer needs to bring, and what the seller is getting.  The HUD is an itemized accounting of all the costs and all credits in the transaction.  Many times after the HUD is done the title company must send it to the bank for approval.

This all takes time.  Then the money from the lender must be sent to the title company. So when a home buyer tries to rush everybody it just causes problems.  Because the bank may need more time, the title company may have 30 other clients to take care of. 

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