Home Buying in 92316>Question Details

Alison, Renter in Los Angeles, CA

i am a home seller and my buyer is signing loan docs tomorrow how soon after do we close?

Asked by Alison, Los Angeles, CA Thu Aug 9, 2012

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5
The best way to find out is to ask the escrow officer. They will know if there are any funding requirements and what the funding procedures are. Hope you are packed.
Good luck,
1 vote Thank Flag Link Thu Aug 9, 2012
If they are signing early tomorrow, the loan docs can go to the bank in the afternoon.
The bank needs a couple of days to look them over, so the loan will fund on Tuesday. Recording, or close of escrow, will happen the following day on Wednesday.

If the title company is on their toes and everything goes exactly right, it may be possible to fund and record on the same day, so it would close on Tuesday.

Congrats
1 vote Thank Flag Link Thu Aug 9, 2012
I would ask your Realtor. I am really surprised no one as discussed this with you because it should be in the contract you agreed to.
Off of no knowledge of what is going on it should be within the next week.
1 vote Thank Flag Link Thu Aug 9, 2012
Alison: If the lender has released the loan documents with little or no buyer funding requirements (ie; current paycheck stub, etc), then once they sign loan docs tomorrow, they go usually go overniight deleivery to the lender for review of signatures and any funding requirirements (insurance, closing statement).
That would be Friday.
Review would occur Friday or Monday. Lenderfunds Monday (as long as funding conditions are met) and record the Deed on Tuesday.
The day the Deed records, the escrow company can disperse funds to you the seller.

Hang in there! cg
1 vote Thank Flag Link Thu Aug 9, 2012
Usually - i'ts 3 - 5 days after depending upon whether there are other conditions to be met. I would speak to the buyer's lender to be certain.
0 votes Thank Flag Link Fri Aug 10, 2012
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