House #25: Waiting to Close

August 24, 2011 · 4 comments

I haven’t been posting much the past few weeks, but that’s only because there hasn’t been much to post about…

We have been waiting to close on The Drought House, which will be our first HUD closing. In theory, once the title comes back clean, we should be ready to close within a week or so, but that doesn’t seem to be the case. The title came back about three weeks ago, and the closing attorney hasn’t yet been able to get the HOA information for the subdivision, so she hasn’t scheduled the closing.

To be fair, we’ve been unsuccessful at getting the information for her (the HOA hasn’t returned any calls), but then again, this is her job as the pre-closing agent, not ours. Finally, I just asked if we could close without the HOA information, if we’d be willing to accept responsibility for any unpaid dues (it’s only $100/year, so I can’t imagine too much is owed).

She said that would be fine, but she still hasn’t gotten the paperwork completed, and therefore we still don’t have a closing date on the calendar. Which is too bad, since our contractors are ready to start working.

Anyway, I’ll continue to leave several messages per day, and hopefully we’ll get this one closed sooner rather than later. The most annoying part of this whole thing is that this pre-closer is also the pre-closer for the other house we have under contract — The Fourfecta House. Looks like that one could take a while also…






4 responses to “House #25: Waiting to Close”

  1. michael jakobczak says:

    This is bringing back memories of the house I just finished myself. Same situation with closing and then it carry over in my rehab, waiting on HOA to approve color changes. Make sure you stay on there butts!

  2. This reminds me of a sign my dad has in his office. “Nothing gets done unless somebody is pushing.”

    Rock N Roll

  3. J Scott says:

    Thanks Danny! After about 50 phone calls yesterday and lots of pushing, we actually got this one closed last night…I’ll post about it later today…

  4. I have really always hated HOA associations. I am glad where I live don’t have a HOA.

Leave a Reply

Your email address will not be published.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

WANT FREE HOUSE FLIPPING STUFF???
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!