Home Buyers Need to Sign Loan Documents
Lately, when home buyers need to sign loan documents, this action has become an all too familiar problem. When buyers write an offer to purchase a home, shouldn’t somebody explain that they need to be available to sign loan documents? How about asking a simple question such as are you leaving town in the next 30 days? How about a friendly reminder such as you need to make yourself available to sign your loan documents and disclosures during our 30-day escrow.
We had an escrow ready to close, and I was informed by the buyer’s agent, on the day of signing (no less), that the buyer had to leave the state for a work conference and would have to sign the following week. This is nuts.
In another escrow, a buyer was annoyed that she couldn’t sign out of the area as it was a 2-hour drive to come to Sacramento. Also, this one is 2 days late as the lender didn’t have loan documents to the title company until the close of escrow date. Of course, with holidays, there is often an additional pressure to sign on time or even early. This one is really touchy as the seller bought a new home and must close in 2019. Talk about nail-biting. When someone is buying a house, is it too much to ask to drive 2 hours to sign your loan documents. Time is always of the essence.
Closing escrow around the new year is always a time crunch. I try to avoid this time of year to close. Sometimes it’s the luck of the draw. The solution is buyers agents need to inform their home buyers of the importance of buyers’ need to sign loan documents.
— JaCi Wallace