House #20: Closing Scheduled

February 6, 2011 · 1 comment

The Lake House has been under contract for a little over a month now, and we now officially have our closing scheduled for February 23…

Both appraisals came back above the purchase price, and the buyer’s inspection went off without a hitch (they asked us to fix two extremely minor issues and we did), but the buyers have been waiting for their tax refund in order to have the funds to close. We knew the closing wasn’t going to take place until late February, but were hoping they might be able to close sooner…unfortunately, their refund isn’t scheduled to be deposited until mid-February, and then underwriting will need a few days to verify the funds in order to get the loan package together.

On the bright side, the loan is approved — other than the downpayment verification — so we don’t expect any issues between now and closing. Assuming there are no issues with the tax refund or the final loan approval, we should get this one closed in two weeks…

The last thing we need to take care of is the issue we had last week with the homeowner’s association…looks like we’ll just need to repaint the exterior trim with a pure white, as opposed to the current off-white…

One response to “House #20: Closing Scheduled”

  1. Tom Greene says:

    Congrats. Took you less than three months even with all of the weather issues, the holidays, and waiting for the IRS. I’m glad the HOA is not making you do too much to come into compliance.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our Newsletter and get immediate access to our FREE 150+ Page eBook on New Construction, plus all of our business tools: Single-Family and Multi-Family Business Plans, Rehabbing and Buy-and-Hold Spreadsheets, Contract Templates, and more!
We respect your privacy. No Spam...EVER!