This is unbelievable. I haven't seen this happen in many months, maybe even a couple of years. I have 2 deals closing on Tuesday, November 13. My buyer's loan got the clear to close on Tuesday and docs were at the title company on Wednesday and we got an approved HUD on Thursday.
For them to buy, they wanted to sell their current home, though they didn't have to. I followed up with the lender for the buyer on the sale end, and he tells me on Wednesday that docs would be at the title company "tomorrow". Thursday was tomorrow, and docs actually showed up!! I couldn't believe it!
We now have 2 completely approved HUDs sitting and waiting for Tuesday! Did I mention that I can't believe it! I still have a deal in the works that was supposed to close on August 15 and we're back in underwriting again.
Docs 6 days in advance? When was the last time any of you saw that?? I'm amazed!!
The part that angers me is that this would have been the best time to go into labor since everything is done, but yet, NO BABY! She'll probably come the day of closing which would make me miss both closings, and then she'll get a spanking!! LOL j/k
It's doable.... very doable.
We did a HUD deal last month and HUD requires docs 5 days in advance. While that is not a problem the title company is always VERY hard to deal with.
Sounds fantastic!
It's just a shame that it doesn't happen that way all of the time...
Tricia, 6 days used to be nothing special, but today, even 3 days is amazing!
Jay, we get docs the day of closing many times. It's frustrating, but the lenders say they have no control... I think they do or else other loans wouldn't be able to get done faster like they are.
Tom, we need to actually close a deal instead of pre-approving all these people, and then I'll expect docs ready 6 days in advance!! ;)
Marc, No joke! It's funny that I stiil had to remind the buyer that they couldn't go charge furniture as they might still pull credit the day of closing. They're out shopping as we speak!
Title companies are not as busy as they were a year ago. That probably helps a bit. And like real estate agents, title companies are hustling more and trying harder to please in this market.
James, That's great to have had your docs before others.
Eric, Actually, the title companies don't really have anything to do with it. They draw up the HUDs as they get docs, and they can't do anything without docs, so it's all about the lender.