We haven't even closed on the new house and already frustration has been evident! In fact, closing the deal is the source of frustration. I am being made aware (yet again) that no matter how well prepared a person tries to be, the actions of others always have the potential to cause problems.
For almost exactly a month, we have had a contract on this house and the underwriters have waited until now (THE DAY BEFORE CLOSING) to decide that they weren't comfortable with the way the title is held. I am learning that there are a lot more "T"s to cross and "I"s to dot in these deals than one would expect.
Now, the underwriters are saying that the person who initially signed the contract had no real right to do so for the sellers. We have already amended the contract to reflect the proper person signing it, but apparently that is not good enough for the underwriters to be satisfied. So it is possible (if not likely) that the closing will have to wait until we can sign a NEW contract reflecting exactly the same thing as the old one and then we can proceed... UGH!!! Meanwhile we have spent a bunch of money and made plans to start work on the house and have the utilities all transferred to our names on Thursday... but we may not close until Friday or even Monday (if then)! I will just be glad when we get the thing closed so that we can get everything back on track!
More later....
No comments:
Post a Comment