Comments on: Ask the Broker – Time to pack? http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/ A San Diego Real Estate Web Log Sat, 13 Mar 2010 21:29:14 -0600 http://wordpress.org/?v=2.8.4 hourly 1 By: Kris Berg http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145199 Kris Berg Sat, 05 Jan 2008 19:33:08 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145199 It sounds like you are making progress, and I will say again that the flowers were genius. :) It sounds like you are making progress, and I will say again that the flowers were genius. :)

]]> By: J W http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145196 J W Sat, 05 Jan 2008 19:07:51 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145196 I am dealing with a broker, and I actually did send flowers yesterday. The sellers agents broker called me yesterday to "qualify me" to put the seller at ease. I gave him my brokers # I really hope the bank can get an approval out soon. I am dealing with a broker, and I actually did send flowers yesterday. The sellers agents broker called me yesterday to “qualify me” to put the seller at ease. I gave him my brokers # I really hope the bank can get an approval out soon.

]]> By: Kris Berg http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145193 Kris Berg Fri, 04 Jan 2008 20:56:52 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145193 JW - Don't know if you saw the latest post, but we picked up the conversation there. "Is this common?" you ask. Not to the extent of your example, but lenders are most often the weakest lengths in terms of meeting timeframes. A thirty-day escrow is a pretty fast clip any time of year; during the holidays, it is quite optimistic. When you have Christmas and New Year's Day falling on Tuesdays, a lot of people are taking those preceding Mondays off as well, which means you have lost four business days. I know you were kidding, but I think the flowers idea is genius. By the way, as a curiosity, are you deal with a direct lender or a mortgage broker? JW – Don’t know if you saw the latest post, but we picked up the conversation there. “Is this common?” you ask. Not to the extent of your example, but lenders are most often the weakest lengths in terms of meeting timeframes. A thirty-day escrow is a pretty fast clip any time of year; during the holidays, it is quite optimistic. When you have Christmas and New Year’s Day falling on Tuesdays, a lot of people are taking those preceding Mondays off as well, which means you have lost four business days.

I know you were kidding, but I think the flowers idea is genius.

By the way, as a curiosity, are you deal with a direct lender or a mortgage broker?

]]> By: J W http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145192 J W Fri, 04 Jan 2008 20:10:58 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145192 Update: The lender in an e-mail say's that they will look at file on Mon(the day escrow was to close) and let us know then a date we should expect an answer... I now know that my ap has been sitting complete on someones desk since Dec 13th. So much for a 30 day escrow. Is this common? Is the lender usually the dead leg in a deal? I feel like sending flowers to the seller. She has a moving truck in her driveway and it's raining... She has approved 2 extensions so far and now it will probably be another week. Thanks for giving me an opportunity to vent, this is great therapy. Update: The lender in an e-mail say’s that they will look at file on Mon(the day escrow was to close) and let us know then a date we should expect an answer… I now know that my ap has been sitting complete on someones desk since Dec 13th. So much for a 30 day escrow. Is this common? Is the lender usually the dead leg in a deal? I feel like sending flowers to the seller. She has a moving truck in her driveway and it’s raining… She has approved 2 extensions so far and now it will probably be another week. Thanks for giving me an opportunity to vent, this is great therapy.

]]> By: J W http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145190 J W Fri, 04 Jan 2008 17:06:47 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145190 My original question didn't post so my b t w didn't make sense, so read this first. I just received a "Notice To Perform" Escrow was always going to close on the 7th. We were going to get loan approval on the Mon before Christmas and have filed for 2 extensions and 2 Fridays came and went with no word except it's the holidays, they are short staffed, maybe tomorrow, and here we are at another Friday and 48 hours as I understand it, to perform. My loan ap is perfect, credit scores, income, solid everything high and tight so my question is why should I jeopordize my down payment because of inadiquate performance at the bank? My original question didn’t post so my b t w didn’t make sense, so read this first. I just received a “Notice To Perform” Escrow was always going to close on the 7th. We were going to get loan approval on the Mon before Christmas and have filed for 2 extensions and 2 Fridays came and went with no word except it’s the holidays, they are short staffed, maybe tomorrow, and here we are at another Friday and 48 hours as I understand it, to perform. My loan ap is perfect, credit scores, income, solid everything high and tight so my question is why should I jeopordize my down payment because of inadiquate performance at the bank?

]]> By: Kris Berg http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145189 Kris Berg Fri, 04 Jan 2008 15:54:18 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145189 Jason, Thank you for the comment, which I am going to elevate to a new post. Jason,

Thank you for the comment, which I am going to elevate to a new post.

]]> By: J W http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145188 J W Fri, 04 Jan 2008 06:52:32 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145188 Oh btw, the bank was told by my broker two weeks in a row, "if we don't get approval by Fri this deal is going to fall apart" and here comes another Fri. I am imagining a guy in a suit at his desk under swaying towers of loan ap's. or maybe the towers above an empty desk as the camera cuts to a guy out on the golf coarse somewhere... Oh btw, the bank was told by my broker two weeks in a row, “if we don’t get approval by Fri this deal is going to fall apart” and here comes another Fri. I am imagining a guy in a suit at his desk under swaying towers of loan ap’s. or maybe the towers above an empty desk as the camera cuts to a guy out on the golf coarse somewhere…

]]> By: Jason Woolley http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-145187 Jason Woolley Fri, 04 Jan 2008 06:45:27 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-145187 I just received a "notice to perform" Escrow closes on Jan 7th. My loan has been in underwriting for over 2 weeks and I am being told it is because of holiday schedual, under staffing and we have now had 2 extensions and here we are at the end of another week with no word on aproval. I personally hand delivered each document throughout the process, never once putting anything in the mail. My application is clean, credit score, income, everything is high and tight. So here we are just a few days from the close date, frustrated, in the dark, the seller has to be totally impatient. So I ask, why should I jeopardize my down payment because of the inadiquate performance of a bank...? I just received a “notice to perform” Escrow closes on Jan 7th. My loan has been in underwriting for over 2 weeks and I am being told it is because of holiday schedual, under staffing and we have now had 2 extensions and here we are at the end of another week with no word on aproval. I personally hand delivered each document throughout the process, never once putting anything in the mail. My application is clean, credit score, income, everything is high and tight. So here we are just a few days from the close date, frustrated, in the dark, the seller has to be totally impatient. So I ask, why should I jeopardize my down payment because of the inadiquate performance of a bank…?

]]> By: The San Diego Home Blog » Blog Archive » Ask the Broker - Appraisal is low, buyer flees. Is there a consolation prize? http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-135814 The San Diego Home Blog » Blog Archive » Ask the Broker - Appraisal is low, buyer flees. Is there a consolation prize? Wed, 29 Aug 2007 20:52:16 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-135814 [...] spoke about contingencies, methods of contingency removal and what constitutes breach here.  In short, if you are using the standard California Association of Realtors Purchase Agreement, [...] [...] spoke about contingencies, methods of contingency removal and what constitutes breach here.  In short, if you are using the standard California Association of Realtors Purchase Agreement, [...]

]]> By: The San Diego Home Blog » Blog Archive » Ask the Brokers - How Rotten is Dry Rot? http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/comment-page-1/#comment-113323 The San Diego Home Blog » Blog Archive » Ask the Brokers - How Rotten is Dry Rot? Wed, 04 Jul 2007 11:57:44 +0000 http://sandiegohomeblog.com/2007/05/29/ask-the-broker-time-to-pack/#comment-113323 [...] it really depends on your contract language. We spoke about the earnest money deposit at length here, but in the context of the standard California Associaton of Realtor’s Purchase Agreement. [...] [...] it really depends on your contract language. We spoke about the earnest money deposit at length here, but in the context of the standard California Associaton of Realtor’s Purchase Agreement. [...]

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