We entered into a contract on 4/20 and our closing is set for 5/20. We’re in LA and the market is ridiculous. Below is our timeline thus far. What is a realistic closing date?
4/20- Offer accepted
4/24- Inspection performed
4/30- Submitted to credit access. Conditions same day
5/1- Appraisal performed
5/3- resubmitted to credit access
5/4- Credit access approved and bank app submitted to BofA same day
5/10- HOI submitted
5/10- Repair estimate and HAND waiver submitted
5/11- Notification of inquiry on my credit
Our appraisal has yet to be delivered and I’m worried we’re quite behind with the bank. Its been 7 days since our bank application was submitted. How delayed are we looking? Is there anything else we can be doing to help this process along?
I also had a 30-day close on my contact. I closed on day 34, so it was close.
It sounds like you’re on track.
One thing to be aware of: you’ll need the Initial Closing Disclosure from the bank at least 3 business days before you close. Mine came a day later than needed and it pushed my close from Friday to Tuesday.
I had to be pretty persistent and reach out for help beyond my MC when there were snags without an immediate resolution.