closing date

Started by xxxxx
over 13 years ago
Posts: 7
Member since: Mar 2007
Discussion about
I just wanted to get an opinion... I've been approved by the board and still waiting for a closing date, but I need to give a 30 day notice for my rental apt by Friday. Do you think it's wise to do that before closing date has been confirmed? I'm assuming I have all of July for closing and it should happen...
Response by anonymous
over 13 years ago
Posts: 84
Member since: Oct 2006

I would not assume that it will take place in 30 days. You need to get a date that works for you, the seller and the bank and it is often a circus to do all of that. Even if you get a date, it is likely to change a week or so before because somebody is not ready when push comes to shove. Good luck.

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Response by anonymous
over 13 years ago
Posts: 65
Member since: Apr 2007

I think 30 days is sufficent time to set the closing. Granted, scheduling might be a bit difficult with the bank, lawyers and everybody, but 30 days is plenty of time. You need to check with the seller if this timetable is agreeable. The seller sometimes need more time. If seller is okay with the timetable, I would definitely give notice to my landlord.

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Response by anonymous
over 13 years ago
Posts: 84
Member since: Oct 2006

#2 here. If you give notice and the landlord goes ahead and rents the place out, you will be in a very hard position. I was in a similar position last year and had the close the day before we had to move out. We got it done luckily, but had they bumped the close 2 days, I would have been stuck fighting with a large management company that said they would seek at least 2 months rent in return. If your rent is not that bad, stay the extra month and give yourself time to not be rushed. YOu have not mentioned your mortgage company, which can also be a major hassel.

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Response by anonymous
over 13 years ago
Posts: 277
Member since: Jan 2007

30 days in the middle of Summer with vacations and the like (particularly with lawyers) is not enough breathing room. Co-op mgt. companies are notoriously slow, so I would definitely pad it and don't cut it close if you don't have to. The overlap in rent will be minor compared to the scramble to find storage, and interim rental, etc. if things don't sync up.

Good luck!

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Response by anonymous
over 13 years ago
Posts: 84
Member since: Oct 2006

Also, don't forget that you ned to find a moving company and secure a date asap. As it stands you will likely move at the very end of the month - when most moving companies charge a premiuim because everyone wants to move - and you will have little wiggle room if the movers try to change dates on you (happened to me before with one of the big companies cancelling my move date 3 days before the move despite me having "reserved" the date 2 months in advance). If you pay the extra month, you'll have less stress on timing and more options to move. We did it the way you did it a year ago and now I wish we paid an extra month and used the time to paint, etc. the new place. Good luck.

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Response by anonymous
over 13 years ago
Posts: 259
Member since: Oct 2006

If I were in your shoes I would give myself an extra month as a safety net. Closing should be able to happen in 30 days but there are many things that could delay closing beyond the 30 day window.

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Response by anonymous
over 13 years ago
Posts: 214
Member since: Feb 2007

Agree with those urging you to give yourself a month safety net. Getting a bunch of people to all agree on a time and a day in a room together in the summer can be no easy feat, all other reasons for possible delay notwithstanding.

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