Chapter Fourteen:
The Last Steps: Final Conditions & Signing “The best way out is always through.”
– Robert Frost
Hurrah! The inspection and re-inspection are complete with repairs done. Hooray! The appraisal is done and matches the approved loan amount. Whew. At this point, you’re probably about two weeks from the scheduled closing date. Now it’s time to get out the magnifying glass.
Final Conditions Everything that’s been done, and all the accompanying paperwork now goes into “the black box of underwriting.” The underwriter is going to get out their magnifying glass and review every single detail. Once again, this is why I’ve stressed that you don’t want to use one of the big banks as your lender. The underwriters who work for the big banks are typically far removed, both literally and figuratively. They could be located across the country and there’s often no way to talk to them. This sort of distance can create issues and slow the process at the worst possible time.
