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Yeah, my closing was done in about 5 mins the day before actual closing. Handful of signatures and I got the keys with the instruction to not use them before next day when I got the confirmation email. Not having a mortgage probably helped, though.
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Aug 27, 2018 20:56
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Motronic posted:Did you have the pre-signing via docusign or similar for your mortgage? I heard that was becoming a thing now with some mortgage lenders and it's basically making closings something you can do on the hood of someone's car in front of the house after a final inspection.
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Aug 27, 2018 22:29
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I paid for my house in gold bars and I literally time traveled and gained time back during the signing.
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Aug 27, 2018 22:35
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HEY NONG MAN posted:I paid for my house in gold bars and I literally time traveled and gained time back during the signing. This is illegal by the way, the paying for things with gold bars.
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Aug 28, 2018 00:49
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Elephanthead posted:This is illegal by the way, the paying for things with gold bars. Time travel is also frowned upon.
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Aug 28, 2018 01:09
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The house of my dreams went on the market on Friday. Two bed one bath beautifully constructed log cabin with a wood stove and sauna on 15 acres of woods just outside of town. DREAM HOUSE and we could comfortably afford it. Our realtor was out of town for the weekend, so I called the listing agent and left a couple messages, she never called me back. Couldn’t get hold of our realtor yesterday evening or today, and she finally sent an email at 8:30 tonight saying the house is pending. I’m so pissed off. We didn’t even get a chance to see it and it’s gone.
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Aug 28, 2018 03:25
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Jealous Cow posted:Time travel is also frowned upon. What are you, the time police?
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Aug 28, 2018 03:25
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Found a buyer for our house, so it looks like contingent offer is a go! Now just need to get all the paperwork dealt with. And hope the buyers don't ask for us to fix everything in our current shitheap of a house.
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Aug 28, 2018 03:37
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So what's the deal with modular homes - I was poking around Zillow and seemingly found some nice ones for under 25k in not-lovely neighborhoods Is the catch that the lot rental fees are stupid high? One property I looked at said it had a monthly lot rental of $700 that included taxes and other fees. Might as well get an apartment for that price, right?
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Aug 28, 2018 04:39
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Don't confuse modular homes with manufactured homes/mobile homes - it sounds like you're talking about the latter, given the pricetag and mention of lot rentals. That said, some of the downsides are similar for both - buying your own land to put them on & dealing with all the permits and utility hookups isn't cheap(and lot fees aren't cheap either, in the case of mobile homes), financing them is different(and often more difficult) than financing a traditionally built home, and zoning can be an issue depending on the community.
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Aug 28, 2018 05:19
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Haifisch posted:Don't confuse modular homes with manufactured homes/mobile homes - it sounds like you're talking about the latter, given the pricetag and mention of lot rentals. Thanks for the advice Another question I just thought of - I stand to inherit a house from an elderly relative who lives in a 55+ community. When he dies I likely won't be age 55 or older. Would I have to sell the house off, or can I live there if he leaves it to me in his will? Can I even own the house through inheritance if I don't meet the age requirement to live in his neighborhood?
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Aug 28, 2018 05:58
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Koivunen posted:The house of my dreams went on the market on Friday. Two bed one bath beautifully constructed log cabin with a wood stove and sauna on 15 acres of woods just outside of town. DREAM HOUSE and we could comfortably afford it. Our realtor was out of town for the weekend, so I called the listing agent and left a couple messages, she never called me back. Couldn’t get hold of our realtor yesterday evening or today, and she finally sent an email at 8:30 tonight saying the house is pending. I’m so pissed off. We didn’t even get a chance to see it and it’s gone. If the house of your dreams went off market in one business day they probably got the offer of their dreams, i.e all cash or significantly over market value. I wouldn’t sweat it.
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Aug 28, 2018 06:52
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EugeneJ posted:Thanks for the advice This is specific to the community ask them. They probably even have a website. I know we were joking at work about an unmarried worker finding an old woman in del webb to marry so he could circumvent the age requirement. That way works they don't boot out widows. Is the elderly relative a spouse?
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Aug 28, 2018 09:11
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It's been great to hear about the quick, painless closings for many goons recently... It made me wonder about the more common issues that jeopardize/derail a closing. Are there some 'usual suspects' to look out for?
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Aug 28, 2018 14:10
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Fireside Nut posted:It made me wonder about the more common issues that jeopardize/derail a closing. Are there some 'usual suspects' to look out for? - People not showing up that need to be there (signators) - Your mortgage company being complete and total idiots and having poo poo wrong on the paperwork. Basic poo poo, like the address of the property - Not having all of your contingencies responded to/met by the sellers by the date of closing - Failing the final walkthrough (see above point - I'm talking poo poo like the sellers leaving things in the house, move-out damage) - Buyers failed to get what they needed before closing and/or don't have the documentation (primarily homeowners insurance) - Buyers don't have the funds in the right place/in the right form - Sellers lender(s) haven't provided proper payoff balances There are more. But it basically comes down to making sure you know the process, documenting everything and following up to make sure you understand what is expected of you and having those things covered, and then following up with everyone else in your clown car (real estate agent, mortgage broker, title insurance company, etc) to make sure their poo poo is ready. And the RE agent should be following up with the seller agent to ensure the same on their side.
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Aug 28, 2018 14:19
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Motronic posted:- Your mortgage company being complete and total idiots and having poo poo wrong on the paperwork. Basic poo poo, like the address of the property Yep. The title agent would point to the address on the contract with a pen, read it aloud, and then ask me to read as well any time it came up. I thought it was silly until i thought about it for three seconds and realized that must be a common enough gently caress up that he feels he needed to do that.
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Aug 28, 2018 20:32
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Fireside Nut posted:It's been great to hear about the quick, painless closings for many goons recently... Every single person involved is a fuckwit. You would think doing this every day for years would weed them out but really you are the only one negatively impacted by their mistakes.
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Aug 28, 2018 21:10
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My closing was also extremely quick. People had prepared me for hours of signing poo poo or waiting around, but we spent maybe 10 minutes signing stuff two days before closing, then on closing I dropped off the down payment and that was it.
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Aug 28, 2018 21:47
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Just wired our down payment. Fun fact - Fidelity brokerage and Schwab Brokerage have $0 wire fees and are instant.
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Aug 28, 2018 21:56
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Motronic posted:
Sooooo close to this happening when we bought out current house. However, it worked in our favor! We did the final walkthrough and they still had a ton of poo poo scattered in the basement, but clearly near ready to pack in boxes, hand trolley loaded up, etc. They also had a fully furnished theater room that they forgot about. Guess who got to keep a sweet set of recliners that we made sure to deep clean because I don't want old furiture but drat THESE ARE NICE for no additional cost? 
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Aug 29, 2018 01:08
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Our down payment was required to be wired in Ohio. Our closing took maybe a half hour tops. I was ready for some strange curveball or something because so many people made it sound like some big event/hinge that could take down the whole deal.
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Aug 29, 2018 01:14
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Our closing ended up taking around 45 minutes. Wasn't too bad - signed a bunch of stuff we had already e-signed previously.
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Aug 29, 2018 01:21
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Thank you to all who responded. I'm a few weeks out from closing and have been taking to heart every piece of advice from the thread. H110Hawk posted:Every single person involved is a fuckwit. You would think doing this every day for years would weed them out but really you are the only one negatively impacted by their mistakes.  My loan processor seems like the type, which scares me, but I've been hounding her consistently until all T's are crossed, etc.
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Aug 29, 2018 12:21
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Our closing took about 40 minutes, which was a combination of more thorough explanations since we were first time buyers, and the loan officer showing up, which saved the title guy a bunch of time since he could do things while that part happened. Also, it was a relo, so it had cleared title and everything else a few days prior. Got them to knock down a bunch of title fees as a result, which was nice. Also, our sellers didn't really want to leave, since it was a relo, but did care about the house and neighborhood, so everything was in pretty good shape. Lawn fertilization is for chumps though, all you're doing is making more work for yourself!
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Aug 29, 2018 13:38
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Oh poo poo we're buying a house, our offer was accepted this morning.
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Aug 29, 2018 17:33
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cinnamon rollout posted:Oh poo poo we're buying a house, our offer was accepted this morning. 
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Aug 29, 2018 19:21
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cinnamon rollout posted:Oh poo poo we're buying a house, our offer was accepted this morning. Congrats! I learned my offer was not accepted, due to a slightly higher offer that was also all cash. Can't even be mad about something I have no hope in competing with I suppose.
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Aug 29, 2018 19:25
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I have a few friends that want to be my realtor. I am not inclined to go with a friend for anything that involves money, but hypothetically - are there any recommended places to go to see reviews about said friends?
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Aug 29, 2018 19:50
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Medullah posted:I have a few friends that want to be my realtor. I am not inclined to go with a friend for anything that involves money, but hypothetically - are there any recommended places to go to see reviews about said friends? Don't mix friends and money, especially not thousands of dollars (3% of $300k is $9k, to give you an idea.) If it goes sour, you just lost a friend. I think you're in a better position here with multiple friends, as you can play them off each other of "I don't want to play favorites on this, especially if something goes really wrong with this deal."
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Aug 29, 2018 20:10
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Counterpoint: id much rather my friend get 9k, presumably with a kick back to me, than have it go to an incompetent stranger.
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Aug 29, 2018 20:30
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My agent was (is) a friend, and it’s been great for both purchases in the last couple of years. When I bought my house she gave me a Big Green Egg and handled the charger installation before I moved back, and she’s managing the contractors for the K&T removal at the condo. I’m happy for the $60K+ total to have ended up in her hands.
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Aug 29, 2018 20:34
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tesilential posted:Counterpoint: id much rather my friend get 9k, presumably with a kick back to me, than have it go to an incompetent stranger. Counterpoint: you buy the house and six months later the foundation needs $75k in repairs. Your friend recommended the home inspector and you felt weird not trusting them but now you’re hosed.
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Aug 29, 2018 20:34
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My friend said that she’d recommend people but not be offended if I went with others, and that she doesn’t get a cut from any of them. If you can’t say no to someone, friend or otherwise, don’t involve them in a 6-figure purchase.
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Aug 29, 2018 20:36
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Koivunen posted:The house of my dreams went on the market on Friday. Two bed one bath beautifully constructed log cabin with a wood stove and sauna on 15 acres of woods just outside of town. DREAM HOUSE and we could comfortably afford it. Our realtor was out of town for the weekend, so I called the listing agent and left a couple messages, she never called me back. Couldn’t get hold of our realtor yesterday evening or today, and she finally sent an email at 8:30 tonight saying the house is pending. I’m so pissed off. We didn’t even get a chance to see it and it’s gone. You should talk to your realtor about making a backup offer even if it is pending. It puts you in a good position if the deal falls through. EugeneJ posted:Thanks for the advice Theoretically you could be fined for living there as under 55, and either forced to rent it out to someone who is 55+, or forced to sell. In practice there are a lot of exceptions. There is usually a requirement for 80% or more of the community to be 55+, so if your retirement community is over the 80% mark already it is fine. There are also exemptions from fines for hardships. There are exemptions if you are not there full time, or rather for temporary residents. As a practical matter if you are older, and you have been living there for a while it is less likely that anyone will question it than if someone new and younger moves in. You should check on the specific requirements of the community, some are more strict, and many have age requirements for the other members of the house besides just the primary resident.
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Aug 29, 2018 22:05
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lampey posted:You should talk to your realtor about making a backup offer even if it is pending. It puts you in a good position if the deal falls through. Worth it for all that weird condom-swinging that goes on in those places.
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Aug 29, 2018 23:41
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Sirotan posted:Congrats! I learned my offer was not accepted, due to a slightly higher offer that was also all cash. Can't even be mad about something I have no hope in competing with I suppose. We found out our offer was not the highest offer. The seller went with our offer apparently because we were willing to do a shorter closing date than the other offers, and also because we had a sizable down payment.
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Aug 30, 2018 00:32
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cinnamon rollout posted:also because we had a sizable down payment. I just went over this with someone who was convinced it didn't matter. I'm like - the seller can SEE YOUR DOWNPAYMENT in most standard offer letters. If I get two offers and one is 3% and the other is 20% I'm going with the person who is most likely to be able to close and not blow the deal up with their finance contingency after wasting a month of my time. Even if that offer is lower but still reasonable. They really didn't get this. But then again, most people have no idea how either side of this transaction works.
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Aug 30, 2018 01:02
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Motronic posted:They really didn't get this. But then again, most people have no idea how either side of this transaction works. Everyone involved is a fuckwit. Buyers and sellers are included.
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Aug 30, 2018 02:18
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Looking to close a week early, which bumps the timeline up to next week. Holy poo poo I likely will be a homeowner a week from tomorrow 
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Aug 30, 2018 03:07
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Yeah, we had an offer on our house, but the buyer wanted us to kick in some money to cover their closing costs. Uh, OK, pay us a bit more for the house & we'll do it. Should have been a red flag they were short on cash. They backed out. Fortunately we got a backup offer with no funny conditions and a lot larger down payment.
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Aug 30, 2018 05:28
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