Not closing on time – Page 13 – NACA Blog and Forums

Tagged: ACA, closing, CTC

This topic has 186 replies, 10 voices, and was last updated 2 years, 6 months ago by Tara585.

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December 9, 2019 at 1:09 pm #62962

NewYorkSpirit
Member

@nacaway how long did it take for the appraiser to do the correction? Also, did your agent have to do the dispute process?

December 9, 2019 at 1:21 pm #62965

tricey718
Member

I know this probably a case of the closing crazies but I was wondering at what point does one request their file to be escalated? My contract expiration date is 12/16. I hate to jump the gun prematurely but all conditions were addressed on 12/6.

I believe I have to receive UW CTC and CTC Final. Seems like a stretch with a week left. Should I be looking into an extension now?

December 9, 2019 at 1:36 pm #62968

Nelsont
Member

I would be expecting a response this week. Have you tried contacting the mortgage processing center?

December 9, 2019 at 1:44 pm #62972

tricey718
Member

I contact them everyday. I was only told that all my conditions were addressed on Friday and its back with the bank. Wednesday will be 72 hours. I did notice the same Appraisal was uploaded to my file on Friday. The original was uploaded on 11/20. Nothing changed.

December 9, 2019 at 1:53 pm #62976

cstar89
Participant

All of my conditions were addressed 11/26 and we still haven’t received an update. File was escalated last week as the expected time-frame to be returned was 12/4. You can request the escalation but when I called to do so the UW had already done it.

My contract expires Wednesday and while I’m prayerful I am preparing for an extension. At this point I just want to get the closing disclosure.

December 9, 2019 at 2:08 pm #62978

Peapod0609
Member

If you do not have a CTC with a week or less left I would probably start asking the seller about an extension. But the seller should be aware that you are very close and the sale is basically in the bag at this point if you’re this far. It is not a matter of if, but when.

So @tricey718 definitely allow the bank at least 2-3 business days to give updates but being that close, my opinion is you should start reaching out for an extension if you’re within a week without a CTC.

December 9, 2019 at 3:36 pm #62996

Tara585
Member

@Peapod0609..THANK YOU! IT FEELS GREAT TO BE ON THE OTHER SIDE. Im just happy it happened. I havent moved in yet and it feels sometimea like Im walking around someone else home but Im sure that feeling will change once I move my things in.
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