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post #1 of 15 Old 06-25-2004, 5:46 PM Thread Starter
 
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Home buying blues (PITA)

[STEPS ON SOAP BOX]
I have a question for all the homeowners on here. How many times did your underwriter change your closing date when you bought your house? Did they keep coming back with yet another piece of documentation that you needed to provide in order to close? I am just about fed up with the whole process!!

Our original close date was May 27. That was moved to June 4 – which was changed immediately to June 10. That was later changed to June 18, then June 23, then June 25. After spending most of the day jumping through hoops with the city, the surveyor, the developer, my insurance agent, FEMA, and the bank – they have the nerve to come back 90 minutes before closing and say, “We’re sorry, we can’t get your packet transmitted to the title agent in time to close this week. We will have to close on this next week.” GRRRRR!!!

Add this to difficulties with level of competent work done by several sub-contractors, and I am about to throw in the towel and call it all off. This is ridiculous! It sounds so simple and innocent when you start the whole process. “I am going to buy a house. My own little slice of the American dream.” BAH!
[/STEPS OFF SOAP BOX]

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Last edited by Acidreign; 06-25-2004 at 5:57 PM.
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post #2 of 15 Old 06-25-2004, 5:49 PM
 
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Re: Home buying blues

I've never bought a house, but I've known people that have gone through that and worse. Amazing the fricking overpaid real estate agent doesn't do all this for you with no hassle.



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post #3 of 15 Old 06-25-2004, 5:54 PM Thread Starter
 
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Re: Home buying blues

What's killing me is that they have had all month to figure out all those little pesky things that I needed to provide to make this run smoothly, but they wait until the day before to tell me I am buying into a flood plain and the day of, after faxing them the surveyed elevation certificate, to inform me that it wasn't good enough and I still needed to get flood insurance. They told me I had one hour to get insurance if I wanted to close today. I had insurance in 48 minutes and they still dropped the ball! And that included having to walk the insurance agent through how to fill out the application so that I didn't get raped in premiums. My way brought the premium down over $200 / year. I just can't believe they get paid to screw off like this.

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post #4 of 15 Old 06-25-2004, 6:42 PM
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Re: Home buying blues

Have they added or increased any of your closing fees? Have they raised the original interest rate? Consult a lawyer...and let them know that you are. You'll be surprised how quickly they get their **** together.

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post #5 of 15 Old 06-25-2004, 6:52 PM
 
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Re: Home buying blues (PITA)

Our purchase in 6/98 went without a hitch. Maybe we got lucky?

BTW, insurance companies and realtors both suck the big one! Sorry if any of you here are realtors... Or insurance agents...

Anyway, good luck in getting things resolved soon.
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post #6 of 15 Old 06-25-2004, 6:57 PM
 
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Re: Home buying blues (PITA)

i have bought 2 and both have had guarantees of meeting the closing cost or they reduced some fraction of points off of my loan
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post #7 of 15 Old 06-25-2004, 7:21 PM
 
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Re: Home buying blues (PITA)

I had to keep on top of my mortgage person just to refinance. First time buying was smooth, but the refi was a PITA. Go figure.
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post #8 of 15 Old 06-25-2004, 7:28 PM
 
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Re: Home buying blues (PITA)

Quote:
Originally Posted by HondaGalToo
I had to keep on top of my mortgage person just to refinance. First time buying was smooth, but the refi was a PITA. Go figure.

they were too busy with all the business.
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post #9 of 15 Old 06-28-2004, 2:37 PM Thread Starter
 
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Re: Home buying blues (PITA)

Closing has been set for 4:30 EST. I am still waiting for the "Oh - we're sorry. We can't close today because ..." phone call. I am going to blow a gasket if they do that again. I have the freakin check, now give me my house!

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post #10 of 15 Old 06-28-2004, 2:57 PM
 
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Re: Home buying blues (PITA)

It looks like it may be a little too late to heed this advice, but you can never go wrong getting an attorney involved to proof ALL documentation and consult you. It only costs about $250, and is well worth the peace of mind. I'm on my second home, fourth mortgage, and never had the types of problems you've described. That would have been enough to scare me into getting an attorney.
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post #11 of 15 Old 06-28-2004, 3:30 PM Thread Starter
 
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Re: Home buying blues (PITA)

Yeah - maybe too little to late. However, next time around I am right there with you on the attorney.

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post #12 of 15 Old 06-28-2004, 5:00 PM
 
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Re: Home buying blues (PITA)

Good luck.
My closing date hasnt been pushed back at all...actually moved it up 2x.

Was closing on selling condo Aug 13th
Was closing on buying house July 30th

now selling condo on July 13th and buying house on July 14th

Guess Im homeless for one night !good thing for friends !
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post #13 of 15 Old 06-28-2004, 6:16 PM
 
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Re: Home buying blues (PITA)

Acidreign, I hope your hassle isn't an omen of what owning your home will be like.
I just closed on a house this past Friday. We set the date a month ago and got everything done in plenty of time (I probably could've moved it up a week). My realtor kicked ass and took care of everything for me. I guess I was lucky everything went smoothly in my deal.
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post #14 of 15 Old 06-28-2004, 7:53 PM
 
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Re: Home buying blues (PITA)

I close on my home tomorrow that I'm selling. The new one isn't quite done yet, way behind. I put closing off on this one as long as I could with a clause that I could occupy it until the new one was done. Well, the new one should have been done last month. Today I get the August 13th date on the new one for closing. I chose my buyers carefully that would let me stay here until the new one is completed. What a deal.
When I first built this one, it was about 3 months late. I watched the rate rise and rise and it cost me about 2% on the rate back 10 years ago. Talk about stressful.
They say moving is the most stressful event in one's life. I believe it. I feel somewhat lucky in my situation. My equity will sit in a money market for the interim time until the next closing. The interest will pay my lease back rent payment to the new owner's. FREE RENT!

P. S.
No realtors on either end. Saved tons!

Last edited by smkeatr; 06-28-2004 at 7:54 PM.
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post #15 of 15 Old 06-29-2004, 2:26 AM
 
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Re: Home buying blues (PITA)

Quote:
Originally Posted by smkeatr
P. S.
No realtors on either end. Saved tons!

I'm with smk. Bought w/o a realtor. And my broker was a personal friend so he got everything together for me (btw his wife was the title agent, so no hastle there either). The prior owners had a clause that they had to close on their new house before closing on the one I bought. Still made the original closing date though.

Good luck and enjoy your new home
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