I'm in the process of buying our first home. All went well until I picked a lazy lawyer who didn't want to get the ball moving. Well I fired him and hired another but in the process I've went past our contract date and my loan approval has expired today and they won't freaking extend it till Friday when we should close. Now I had to resend the application and hopefully my mortgage broker can bust butt and get the new loan approved by Friday but I'm not counting on it. What a major headache and pain in the butt this has been. Is this frustration and aggravation normal when buying a home? Sheesh....
Yeah this very typical. When i was buying my first house i keep on calling to see what the status was. All i can suggest is using a bank or mortgage broker that you know and can trust to be on the ball and not let your loan slip through the cracks.
Ouch...mine was pretty seamless, but both my lawyer and lender were badass. My agent, not so much...however, she did manage to find us a property we wanted (finally). Once we knew we wanted the place, I leaned on my lender to make it happen and pretty much stopped talking to the agent. Does this mean you're coming to the dyno day?
Well, your mortgage broker should of handled getting you a reputable lawyer. He is actually making the most money on this deal and therefor should be responsible for making sure everything goes well. My wife works for a closing attorney and 99% of the time when a closing does not close on time, it is due to the lender, not the lawyer.
I picked the lawyer and that was 100% my fault. This lawyer is a friend of my dad's so I requested him. I'm with the lawyer that my broker has had the best luck with now though. The lender is not an issue.....everything was in line and ready to be a done deal until the lawyer kept dragging and thus my loan app went void. Oh well the re-underwrite and approval is under way.
this. it's not as cracked up as you would think. just depends on your mindset really. yeah, you can do whatever you want and have room to do things. but you're tied down for the next 15-30 years making that payment and required to have a minimum income. unless you're just rich or daddy is paying for it. if so, DIAF.
Heh I have a 30 yr mortgage but it'll be paid off in 7-8 yrs with my current budget. Fast payoff FTW!
You shouldn't be suprised. Anything involving a lawyer is bound to be screwed up. This lawyer thing must be an east coast thing because out west there is no lawyer in the middle.
The lawyer is for the title search and title insurance fyi. You guys don't do title insurance back west?
Yeah. They have all that but handled by the title office. All the lawyers are busy suing for gay rights in California.
you think it is painful purchasing one...wait until you have gotten in and then all the things that go wrong! trust me...owning a house, there is ALWAYS SOMETHING to be done. good luck to you!
Good Luck to ya bro...If I get the job in HI, I will send you some major kick ass coffee like I sent Alex...LOL... Mark
I should update this thread eh? We closed and I have been living in my own home since June 5th. It's a PLEASURE owning your own home. I couldn't be any happier.