Final Clear To Close

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Viewing 14 posts - 31 through 44 (of 44 total)
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  • #63942
    msm407
    Member

    @lcovington Thank you!
    And I’m not really sure who reviews it, all I did was upload the declaration page to my file and they never asked or said anything else about it. @Nelsont might know.

    #63943
    Nelsont
    Member

    Congratulations!

    I do not know. Is there a reason you want to know or are you just curious?

    The only 2 reasons any standard policy wouldn’t be sufficient are you didn’t put the right address for bank of America or you live in an area prone to natural disasters. Other than that just simply having the policy satisfies your condition.

    #63944
    lcovington
    Member

    @Nelsont just trying get things to done as fast as possible. I mean we submitted our homeowners insurance policy over 2 months ago. Processing said a third has yet to review. So I am just wondering who is this third party and why does it take so long to say looks good to such a basic document,

    #63945
    Nelsont
    Member

    Yeah I wouldn’t know. But you’re right it doesn’t seem difficult. I forgot to submit my policy as part of my conditions and when they came back and asked for me to submit it I got the approval in a day. It doesn’t make sense for it to take any longer.

    #63946
    msm407
    Member

    @Nelsont thank you! And thanks for all of your info and feedback on this forum. This closing process was very stressful, but me closing with a 0.125% interest rate was worth it.

    Happy New Year!

    #63947
    LyricL
    Participant

    I’ve seen on a couple threads now people mention talking to an attorney. Does everyone need an attorney and why?

    #63948
    Nelsont
    Member

    Some states require a real estate attorney to draw up the contract negotiate the terms and close the deal. Other states make it optional. Most have no requirement at all.

    It’s a state regulation. I think less than a dozen have the rule. If you don’t know anything about it then you probably live in a state that doesn’t require one.

    • This reply was modified 10 months ago by Nelsont.
    #63951
    LyricL
    Participant

    Ahhh, okay. Thanks much @Nelstont!

    #64112
    tricey718
    Member

    Did you close @NewYorkSpirit ?

    #64661
    vonny2421
    Member

    @firmeh89 I’m wondering the same thing. I’m also trying to find out if NACA covers the lawyer price, or if this comes out of pocket?

    #64663
    firmeh89
    Member

    @vonney2421 my lawyer is paid for by naca, he was also on the list of recommendations.

    #64666
    vonny2421
    Member

    ok I was just wondering because my lawyer wasn’t on the recommended list. So i’m trying to figure out if I’ll have to pay for him or no?

    #64667
    Peapod0609
    Member

    Bank of America pays for attorney fees on all NACA loans, you do not need to pay them.

    #64722
    vonny2421
    Member

    thank you

Viewing 14 posts - 31 through 44 (of 44 total)
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