04-23-2014, 06:44 PM
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#1 (permalink)
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A True Z Fanatic
Join Date: Jun 2010
Location: Long Island
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Quote:
Originally Posted by JARblue
I am also wondering how much the mortgage rates are changing on you. Rather than extend you might have an opportunity to get them lower.
We actually purchased our house mid-March when our apartment lease wasn't up until June 1st. The seller was having trouble closing on his new place, and we let him stay for over a month in exchange for a bunch of furniture and yard equipment he was willing to leave us. It worked out great as we didn't have to pay for the stuff and still had plenty of time for renovations before moving in.
If you still have a place to live and aren't getting totally screwed by changing mortgage rates, you might consider just waiting until June to close and move in.
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Rates are still higher than when we locked. Doing so also means we lose out on discounts for the loan officer and having to start over. Our loan is pretty much good to go and we were hoping to close early. We honestly didn't think the tenant was an issue anymore until today. The attorney told us he could leave May 1st when we signed the contract, that's why we picked the date. We were given the impression that the date was set considering there was no objection of any type from the owner or their attorney when we signed. I get they legally have until June 1st, but doing so in nothing short of a **** move by not letting us know of their decision with the tenant until now.
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