Follow up constantly with the lender to get the escrow closed.
Please do as i say- not as i did. Part of getting the escrow closed is dealing with the lender. You should always have permission from the buyer to speak to the lender. Of course i did that but then i got lazy after the first conversation. The lender assured me that the borrower had been approved and it was just a matter of update.
We had a 17 day loan contingency but it went past. I was dealing with the condo approval from V.A. (by the way, i have a great guy when you have this problem) So i did not follow up with the lender. I thought the realtor was doing it. Big mistake. As i have said many times,”TRUST NO ONE”. You have to be the one following up and torturing everyone.
I finally called the lender and INSISTED on a written loan approval subject to the condo approval. It turns out that part of the delay was the borrower not returning needed docs. I should have been the one talking to the lender to find out what he needed and then calling the realtor or the borrower and following up EVERY DAY until compliance had taken place.
The lender assures me that the written financial approval will be coming tomorrow. You can be sure that i will be calling him EVERY SINGLE DAY to find out where we are. I also asked the realtor to do the same. These people have a pile of files on their desk. You want them to think about yours every day because they want to get rid of you.
Please take my advice. It will save you money. Be the squeaky wheel.
