What is your Realtor telling you? Times are difficult for Buyers and their Lenders these days. If your Realtor thinks it will fund on Monday, then go ahead and close on Friday with possession being upon funding. Your Realtor is communicating with the Buyers Agent and the Buyers Lender and will have a good idea if it will fund on Monday or not.
Sellers and Buyers have to have a ton of patience these days when loans are involved. I always try to get my Buyers to use lenders that do everything possible up front with our Buyers and the Under Writers so that we don't have last minute hold ups.
Here's the statistics sent to me from my Favorite Lender:
Since January 2012 we have closed 521 purchase transactions and we have had figures to title 3 or more days before the closing date on 99% of those transactions.
And also, since January 2012, with the same 521 transactions, 95% of the time we are Clear-To-Close on or before the Loan Conditions Deadline!
These are Amazing numbers in todays lender market. This makes my life, my Buyers lives and the Sellers lives all much more pleasant. Unfortunately some Buyers have friends or family members that they feel they have to use and wow, the problems that come up are just amazing. Recently one of our Buyers used his bank, a very large bank and an Aurora branch, he loved his guy, until his guy about killed the deal and lost him his new home. That was quite the battle and would have never happened with the lender most of my Buyers use. Another Buyer wanted to use a Giant National online lender that told her she definitely was approved to buy her dream home. Three weeks into the transaction they really looked into her credit and found she could not buy, again that never would have happened with a good lender.
Hang in there through the weekend. I am sure it will be a worrysome weekend for you but if the Buyers lender is going through the motions of closing today, then they must be confident that it will fund on Monday.
Key Real Estate Group LLC