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No, We're Not Closing Because.......

By Linda Lipscomb

Real Estate Broker/Owner with Linda Lipscomb RE/MAX Lexington Henderson County TN 262480

July 30, 2009 03:02 PM

Well, I have a new excuse for a delayed closing.

I bet none of you have ever heard this one before.

So, here we go:

The underwriter called to say we must buy house numbers and install them on the home before they would fund the loan.

I thought it was a joke!!!!!

I have sold hundreds of home and have never had to install a house number.

Is this a new rule with Chase or Rural Development????

Needless to say....we got those three little numbers on the home today and are hoping for a close date of Monday.

The buyers were so disappointed as they were needing desperately to move over the weekend. How nit-picky is this going to get??

Linda Lipscomb RE/MAX Unlimited

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Brian Brumpton

Keller Williams Boise - Boise, ID

Boise Idaho Real Estate

Wow, that's got to be more than frustrating. Here I was feeling sorry for myself because the bank killed my short sale over 2K but house numbers? Come on.

Jul 30, 2009 03:15 PM

Jen Bowman

Keller Williams on the Water - Holmes Beach, FL

Realtor - Anna Maria Island & Bradenton FL

What will they think of next? My closing today was supposed to happen last Friday, 6 days late, OK fine, but the closing itself took over 4 hours today. Unbelievable!

Jul 30, 2009 03:16 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Susan,

Feeling really bad for the buyers. But, we gotta do what we gotta do.

Thanks for your comment.

Have a great weekend!!!

Jul 30, 2009 03:19 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Brian,

Great to hear from you.

Yep...been singing that song all afternoon....if you like country music it goes like this:

God is Great, Beer is Good, and People Are Crazy!!!

Jul 30, 2009 03:20 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Jen,

Oh, wow!!

4 hr. closing will sure make the gang restless.

Bless you.

Thanks for your comment.

Jul 30, 2009 03:22 PM

Rosalinda Morgan

Brookville, NY

"The Rose Lady"

Linda - It's getting harder and harder to do a closing. Bank is very creative in making excuses to postpone or deny a loan. House number is the craziest I have heard so far.

Jul 30, 2009 03:29 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Dedra,

Thanks for you comment.

The buyer purchased and installed this afternoon.

Loan was to close tomorrow. Unfortunately, it will now be Mon.

Jul 30, 2009 03:31 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Rosalinda,

Think it would be fun to see what other excuses are out there.

Isn't this the craziest time in real estate??

Thanks for your comment.

Jul 30, 2009 03:32 PM

Elizabeth Bolton

RE/MAX Destiny Real Estate Cambridge, MA - Cambridge, MA

Cambridge MA Realtor

Wow Linda ~ that seems like an odd request from a lender. In my area one city's fire department requires house numbers to pass the smoke inspection that's required to close. Truth be told even if it's odd for a bank to ask (not to mention the enormous inconvenience of pushing off the closing) I do think it's a good thing - it's a matter of safety - everybody should have clearly legible house numbers.

Liz

Jul 30, 2009 03:33 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Elizabeth,

I agree you should have identification on your home in case of an emergency.

I could see if this were an insurance requirement.

But, a lender requiring is a first for me.

This is a rural property and the house number is on the mailbox.

Jul 30, 2009 03:36 PM

Lynda Eisenmann

Preferred Home Brokers - Brea, CA

Broker Associate ,CRS,GRI,SRES, Brea,CA, Orange Co

Hi Linda,

Afer 38 years as a full timer, I've never heard of that one either. The appraiser must have made mention of it on his/her report, otherwise how would they know. BTW, what type of financing did you have on this one?

Jul 30, 2009 03:42 PM

Angelia Garcia

Pure Realtors - Dallas, TX

Did you verify with them if they also wanted them spray painted on the curb, the trash can, the garage door? Geez.

Jul 30, 2009 03:45 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Lynda,

Thanks for your comment.

This was an Rural Development loan. They passed everything.

Chase required the house number. Photo on the appraisal showed it missing.

Jul 30, 2009 03:48 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Angelia,

Sure wanted too.

Honestly, I thought they were joking.

I probably won't sleep a wink tonight for thinking about how ridiculous this requirement.

And no to mention the inconvenience to the buyers who must give up the rental tomorrow afternoon.

Jul 30, 2009 03:52 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Angelia,

Sure wanted too.

Honestly, I thought they were joking.

I probably won't sleep a wink tonight for thinking about how ridiculous this requirement.

And no to mention the inconvenience to the buyers who must give up the rental tomorrow afternoon.

Jul 30, 2009 03:52 PM

Larry Bettag

Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL

Vice-President of National Production

Oh...that's a new one. I've seen some real stupid reasons, but I've never seen this one. Thanks for the heads up.

Jul 30, 2009 04:10 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Larry,

What next, I wonder??

Thanks for your comment.

Have a great weekend!!!

Jul 30, 2009 04:14 PM

Corey Chase

Silvercreek Realty Group - Meridian, ID

That is just plain insane to think they would hold up closing for new numbers on the house. I have never heard of something like that happening before. Did you make sure there was matching numbers on the mailbox.

Geez.....

Jul 30, 2009 04:21 PM

Vickie Nagy

Coldwell Banker Residential Real Estate - Palm Springs, CA

Vickie Jean the Palm Springs Condo Queen

Sellers paid HOW MUCH for those 3 little numbers? (3 days of interest) Buyers paid HOW MUCH for those 3 little numbers? (3 days hotel, 3 days truck rental). Truly unbelievable!

Jul 30, 2009 04:28 PM

Linda Lipscomb

Linda Lipscomb RE/MAX Lexington Henderson County TN - Lexington, TN

731-695-1118, Lexington TN Homes

Corey - Thanks for your comment. Yes it was pretty insane.

Vickie- It's as though we're not human anymore. No compassion.

Aug 01, 2009 08:25 AM