Step 10- Move in!
Congratulations! You now own a home and can move in, or can you? I want to share a nasty little secret with all of the buyers who intend to buy a foreclosure. Did you know that the bank will not let you move in right away? It’s true, there is one other thing that needs to happen after to attend the closing. the funds and the HUD-1 have to be returned to the bank for review. After they have reviewed it they will sign off on the HUD-1 and you will get your keys. The bank wants to make sure that the final HUD-1 matches the last one they saw a few days before closing so be aware of this. This process can happen very fast or can take up to three day to complete. The best thing you can do is again request a closing in the morning, early in the week before it gets too busy and no where near the end of the month. I would even suggest you avoid Fridays.
Hope for the best but prepare for the worst. Don’t lose sight of the fact that you are getting an incredible deal on a home and it is worth the wait.
Tom Sommers/Edina Realty
Good suggestions for those buyers. Normally buyers want to close on a Friday,
just for the convenience of moving in over the weekend.
Thanks for taking the time to read it Johnny