Posted by jba/fl on 5/14/08 3:46pm
Msg #247444

HGTV show on home buying

Recommends that you not schedule your home closing at 4pm - make it in the morning. Gosh - I wish more would! 4, 5, 6pm: seems everyone is stuck on those hours.

Reply by SheilaSJCA on 5/14/08 3:52pm
Msg #247446

Why did they say not 4pm?
Most people pick 4pm, so they can still put in a "full" day at work, and just take off a little early.
I agree most everyone wants the same time slots like 6 or 7pm.
I like day time closings too, if something comes up, the borrower can usually get their answers that same day, because everyone is still around.

Reply by Lee/AR on 5/14/08 4:09pm
Msg #247448

Probably because by 4pm, everybody is goofy.

Reply by Linda Juenger on 5/14/08 4:57pm
Msg #247457

I'm sure all of us has had the pleasure of calling borrowers to confirm a 4pm appt and be told that they do not get off work at 4 and its at least a half hour to an hour before they are home. The LO's HEAR the number 4 and schedule it for that time. I think they schedule it to their to accomodate themselves more than the borrowers. Seems that way a lot.

Reply by BrendaTx on 5/14/08 5:03pm
Msg #247458

My guess is because the morning closings make people get things done. If they start getting behind in the morning it ruins their whole day's line up.

Less time waiting around.

People have to waiting around at title companies at night as well as in home signing appointments.

Reply by BobbiCT on 5/15/08 7:09am
Msg #247541

NO Money in the morning ...

Different rules for different states and time zones. On a purchase, it usually funds at the table. To have money IN THE ESCROW account by "say" 10 am eastern standard time, the Lender would have to wire out the money the night before. Even the east coast time zone lenders we deal with for closings before noon wire the money the night before. IT MUST BE IN THE ACCOUNT ... think of all the parties involved already on their way to the closing, only to arrive and discover they can 1) sign and come back later for $$$$$$ or 2) give over cell phone numbers and someone will call when $$$$ arrive to re-schedule closing for later in the day .... at the convenience of the closer/escrow agent whose schedule may be booked full.

During the "day job" we and my associates in offices throughout the state rarely schedule purchases in the morning unless we are very familiar with the lender. No documents - no one to call in California 'cause they're not in the office yet. Recently had one from Texas: Documents wrong: nobody at work yet. Funds didn't arrive in account: nobody at work yet. Clients REALLY PO'd: screamed at everyone but us (not our fault). Badmouthed and will continue to badmouth lender wherever and whenever they can. Everyone came back later; took loan, but swore to NEVER use that lender again and make sure everyone they know NEVER uses that lender.

If you're in California doing a morning closing with an east coast lender, it works: most of us have been working in the office hours before you've even rolled out of bed.