Closure--Literally

This last week has been the biggest nightmare of my life. To summarize:

1.) Buyers mortgage “suddenly” feel through.

2.) All real estate agents involved in the problem, that would be Andy Higgins and Mary something a rather were completely incompetent to resolve this problem. These idiots actually thought they were going to get Bank of America to provide a loan to my buyers after the lender did not return any calls for TWO DAYS.

3.) After Bank of America did respond to the buyers guess what-----these morons decided to cash out some of their 401K to cover the difference needed in the new loan(is anyone asking why did they need a new loan in the first place? Where is the accountability from the lender on the first mistake? Why isn’t someone standing on the desk of the mortgage guy?) and then decided to have this check sent in the US MAIL. I am shaking my head while I write this.

4.) The idiot agent duo didn’t even think WOW---these people used to have a mortgage approved by Chevy Chase Bank, maybe we should call them again. ITS FRIDAY PEOPLE. I screamed at my agent after finding out about the check and said by 11am they had to contact a new lender.

5.) Of course the idiot duo are telling me all about how Chevy Chase Bank is well known in the area-----I stamped this right out and said I am really tired of hearing who you know, how you are a BIG SHOT and just about everything else you are saying. In other words....please spare me. Its like I am being sold a car that is going to die 10 minutes after I drive off the lot.

Meanwhile….I am sitting in my new house without buying it. Perfect. Sitting on a pre-occupancy agreement that is costing me $100/day. What am I going to do?

1.) Get BRIDGED. This happened Thursday afternoon, right after the 401k call which slapped me into reality QUICK. E*Trade mortgage broker calls back, sorry you don’t quality for a bridge.

2.) My DC agent looks at me and says WHAT? That is ridiculous we are calling my mortgage guy and he is going to get this DONE.

3.) After moving all day I drag my ass up to local coffee shop and fill out an online application. Get back to my new place and immediately get a call from the new mortgage broker, Matt Gilday. This guy rocks and is totally on it. Gets it signed and done by Tuesday afternoon.

4 .) Meanwhile, the buyers claim they are ready to close Tuesday afternoon...so we push closing on my new place to Wed. Guess what? Of course, paperwork is not ready! BIG SURPRISE! In the end we ended up closing on Wed morning and I bought my new place Wed afternoon.

Future tips....get a lender that can bridge. Get an agent that has a clue. Make sure about week before the close that you have a mortgage from your buyer. DON"T trust your agent.....next time.