I Finally closed on this one......

By
Real Estate Agent with Du Rite Realty, Co.

 Hello Eveybody..

 I finally could close on this little house in  North Flushing. Such an easy sell but took long to have a closing date. Why? The bank had to verify the buyers occupation 2x.  I can not believe how hard the banks are giving out mortgages. WE Waited from June 27 to 14 to close. but it was a very smooth closing.

 ****Hope**** it gets better....

Comments (3)

Mary Aguilar
David Lyng Real Estate - Monterey, CA

It becoming incredibly difficult to work with banks and get escrows to close on time.  I just had a buyer who was buying an REO - they put down 50% and the bank still wanted a holdback on 4 issues with the house that were defined as "safety issues" - new door, rip out decks, new baseboard heaters in two bedrooms, and fix a slopping kitchen floor that a Home Inspector said was "sound foundation".  The buyer was going to do those anyway - but an additional $8000 was held by the bank and will be released only to a licensed contractor.

I think money is getting tighter and we will continue to have these difficulties - the pendulum has swung the other direction!

Jul 21, 2008 06:24 AM
Joan Whitebook
BHG The Masiello Group - Nashua, NH
Consumer Focused Real Estate Services

Looks like the banks have gone from one extreme to the other.  Now, some are just a bit rediculous!  I hope that things will even out before too long and we will have a healthy vibrant marketplace.

Jul 21, 2008 06:28 AM
Gary Bolen
McCall Realty - South Lake Tahoe, CA
CRS - Lake Tahoe Real Estate Information

any closing is always a good closing. congratulations on this one, and lets conjure up some more. also thanks much for commenting on our piece earlier today.

cheers

Jul 21, 2008 08:15 AM