why buying a home sucks, reason #28492
So we're 2 weeks away from closing escrow on the home, and things have been reasonably sane & quiet for the past 2 weeks or so, since the contingency period ended. Yesterday evening, we got the estimated closing sheet from the title company, and there were a few items that weren't all that clear. We fired off an email with a list of questions to the realtor. This morning, we have a reply, which said, amongst other things, that the bank wrote up the loan paperwork with an expiration date 2 days *before* our closing date, which basically made them useless. WTF? To make matters even worse, they've setup the financing to include what is known as an "impound account" where the bank acts as a proxy for us in paying all govt taxes & insurance. This was not something that the bank had ever discussed with us, not something we would have consented to. After a flurry of calls to the bank, things got sorted out, mostly, but it was yet another round of stress & aggravation in a long, miserable process. Closing cannot come soon enough.