Talk of The Villages Florida - Trying to close on new construction

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- - Trying to close on new construction (https://www.talkofthevillages.com/forums/villages-florida-general-discussion-73/trying-close-new-construction-318161/)

Quote:

Originally Posted by Roron123 (Post 1925246)

Your realtor should have asked for an extension if mortgage was not completed at the time of closing!!

NO one gets an extension. You are given the date and time of closing on the day you sign to build a house. Period. Amen. If you do not get YOUR ducks in line, than you will face a fine. They have things extremely well planned out. If you do not want to do it their way, than find another place. It is worth it to live here and they are an amazing group of people; the Morses. There are a dozen standing in line behind you if you don't want to face that fact that there are rules and restrictions.

Quote:

Originally Posted by Tracyb624 (Post 1924578)

Hello, looking for a little info to see if anyone has experienced this. Bought my mother a home in TV and moving her from California. Unfortunately with all the home buying going on it took my lender more time to get the loan out to the title company and went past the closing date assigned by TV. Not ever buying a home in this state I didn’t know what to expect for a proper time frame. I’m realizing it takes longer here for all parties to get together on things to close. Anyway my question is has anyone gone over and had to pay extra for each day not closed and how much? Are they negotiable? I’m just trying to get some figure or have some kind of idea and no one can tell me until final figures come out. Has anyone else had this happen. Never heard of such a thing.

Thanks in advance

When we originally bought in 2009 we had a year to build. We returned March 2010 and completed the purchase agreement. Our closing date was June. We were living in TX, we told our sales rep we were going to finance using a VA loan. They never told use TV did not accept VA loans on new home purchases. It was 30 days from closing when we were informed of this, we had no choice but to request a loan using Citizens. Everything was done over the phone or online. Because of the time constraint they “rushed” the loan process HOWEVER they did not get all the paperwork to the closing company in TX on time. We closed a week late but didn’t pay any penalties as it was because they didn’t inform us I a timely manner that they would not accept VA loan. If they try to charge you I’d fight it.

We closed in February, w/Citizens First. It seemed that every Friday, at 4:00, they'd ask for more paperwork, that we couldn't get them until 2-3 days into the next week.

Our realtor kept telling us "they've never missed a closing date", and damned if she wasn't right. Our final approve came 10 days before closing. Seems they only work on a "first in, first out" system. They wait on your mortgage until they're done with the one received before you on the list... IMHO, not the best way to keep your customers happy...

Not saying it wasn't stressful and aggravating, but they did get the job done...