Posted by Jenny/CA on 7/20/05 3:45am
Msg #53294

wondering about Purchase signings

Hello every one,

I read the threads on "purchase closings" and "purchase docs". I am still wondering , though, are they really difficult and time consuming? Someone else mentioned that they were easy and that they were a piece of cake.

After my many mistakes with my first signing (which was a 1st and a 2nd) I can't believe that my second chance at a signing would be a Purchase. Since I don't know anything about it , I did not accept the job.

I'd appreciate any input.

Reply by TinaG_CA on 7/20/05 9:17am
Msg #53314

Purchase closings are not difficult to do. Any type of closing can be difficult and time consuming depending on the borrowers, lenders, title, etc. You just need to take your time and make sure the doc's are signed, initialed and notarized correctly. Everyone on this board has made a mistake at one time or another. You just have to learn from them and go forward.

Reply by Jenny/CA on 7/20/05 11:34am
Msg #53348

Thank you Tina.

Reply by AnneSoCa on 7/20/05 11:57am
Msg #53358

Jenny,
I did my first purchase signing about a month ago. I was really nervous, but once I got there and saw the documents, I realized it wasn't that much different from a first mortgage.

I went through the docs slowly and carefully, to make sure I knew where to have the borrower sign, date and initial as well as where to notarize. I never heard back from the lender, so I guess it went ok!

Keep trying, and if you're offered a purchase again, I say TAKE IT!

Reply by Shannon/Va on 7/20/05 2:47pm
Msg #53395

I dont think purchases are any harder than a regular first mortgage or refi. There is no right to cancel and maybe an extra 2 or 3 papers in there. Nothing else.

Reply by Jenny/CA on 7/20/05 3:46pm
Msg #53422

Re : Anne & Shannon

Thank you both, as I had mentioned this would have been my second signing. My first one was a refinance with an extra set of documents to notarize. I was told this was called a first and a Second. I am wondering when you both mention that a Purchase is similiar to a first mortgage is that the same as a refinance. I am thinking that it is just like buying a brand new property.

Again thank you , it helps to hear / read form the experience of others.

Reply by TinaG_CA on 7/20/05 2:50pm
Msg #53398

You're quite welcome n/m