Thursday, October 9, 2014

The Closing That was to Be

The nightmare continues. You can only have so many moving parts before a wheel or two comes off the wagon. When you have a home in one state owned by two people who live in two separate states being sold to a third party who in turn lives in a third state, three time zones away - are you getting the picture? Now let's add a closing that will take 2 days because part of it is being done via FedEx and a large national bank. 

Well the closing that was orginally scheduled for Wednesday was "temporarily" rescheduled for Thursday. However given on Wednesday no one had a time or place for the closing the following day, not to mention no one had not heard from the bank - it did not look god for the home team. So Thursday morning there was a flurry of emails between all the parties - by this time, we have 2 sellers, a buyer, 2 realtors, an attorney, and a non-responsive bank. No closing on Thursday.

Later I learned that the closing package had been assigned to an incompetent loan officer at the bank - that was bad. He had been fired this week due to his incompetency - that was good. A new person had been hired in his place - that was encouraging. However she would have to figure out where everything stood before anything could be done with the loan package - that was bad. It looked like everything could start moving again on Friday (ie the papers be sent to California and returned) for a closing on Monday - this was good. Monday (naturally) is a federal holiday - this was bad.

Our best guess is Tuesday. And only then if the new loan officer figures it all out, Fedex does not have a stoppage, all the parties can be in one place (with the exception of the buyer whose papers will be sent in ahead of the actual closing), the numbers are correct on the HUD form, and Jupiter aligns with Mars  - will this happen. But like an old car salesman once told me, "Honey it ain't over until the bumper crosses the curb and the check clears the bank."

The fat lady hasn't sung yet. In fact the fat lady hasn't even gotten to the theater. I just hope we have the correct theater and have a fat lady to sing. 

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