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My status now says “Approved-Clear-to-Close Final“ which I got on 11/27. My MC said to schedule closing with escrow but escrow said they are waiting on the bank to send loan docs. Is this the final step? Do I have to wait another 3 days? I’m already 1 week past my original closing date now I had to extend out my lease. Does anyone know? @Nelsont @Ttrumble
Still no clear to close! I only have until the 30th for my current residence. My MC keeps telling me it’s been escalated but I am running out of time! @Ttrumble is there anything I can do to escalate this further? I need to close on this property by the 30th!
@Nelsont I hope you are right. NACA is a great program but the communication and customer service are the lowest I’ve ever experienced! I’ve been reading on the forums and it seems I need a Final closing disclosure then a Clear to close before we can close? And my MC said you can’t close until 7 days after that? It’s so confusing! Didn’t think a new construction property would be this difficult
@SkinsNation was it three days from the initial CD or the final CD? We got our initial today and we are already behind on closing. Really hoping we get this completed soon!
@Untrue2all Definitely not a scam. It can however be a frustrating process. I’m personally on my third counselor who is really great and responsive. The first two were like ghosts. Hang in there!
The first appraisal came back short. It seems it was short because the appraiser didn’t use the correct purchase contract with the updated addendum reflecting the upgrades and solar panels.
So now we have to go through the appraisal dispute process which sucks! I guess we will get another appraisal when the home is built but I’m just a bit nervous now because my web file says “Lender Status: Underwriting-2nd Opportunity”.
Also one of my Lender conditions is asking for COC documentation Which I’m not exactly sure what that means but I guess I will find out soon. Fingers crossed
Ok that makes sense. I wonder if I will have to add the funds to the escrow Account To pay in cash or maybe a principle reduction? I guess I will find out soon. Just hope everything goes well with the appraisal
@jgamble8 so your saying your purchase price included the upgrades but the actual loan amount was different because you paid cash for the upgrades? Does the appraisal have to equal the purchase price or the loan amount?June 26, 2020 at 11:00 pm in reply to: New construction – possible to pay builder for upgrades rather than have them ad #69782
Hi did you ever get an answer for this? I am in the same situation and would like to pay for any upgrades in cash so I don’t have appraisal issues