October 4, 2022October 11, 2022 FOGA

Rental Misadventures Part One: Turbulence

Real Estate

Alrighty. Part One of the promised story. That’s right. Part One. This is a journey. So, get ready.

Last month we closed on our rental home. Should have been a fairly easy process considering that we started this back in January and the lender had everything they needed from us. Right? Well, nope.

The day before the closing right around the 2 pm deadline to get everything to the title company, not only had they not sent anything, they weren’t replying to anyone. I called, texted, emailed, left messages, and nothing. The builder was doing the same and they weren’t getting anything either. Finally got a text around 2:35 pm (you know, 35 minutes after the deadline) saying that we did not have the clear to close yet. Why? Cause some underwriter had not approved everything yet and we needed to wait on that. At this point, I know what this looks like. I ask them point blank if this is going actually going to get done today. They say yes. Checked back in around 4:30 pm and got a reply around 6 pm saying that we were still waiting and they were doing everything they could. At this point, the builder has every right to move the closing and charge me a late fee. They opt to try to close it on the same day since I’m an employee provided they get everything from the lender in a reasonable time the next morning.

Now, what makes this whole thing EXTRA annoying is that I have worked with the lender before. Plenty of times. We had a pretty good professional relationship. I never had much of an issue with them in the past. Yet, for my loan, that they had ALL THE TIME with, is where they dropped the ball. I was, to be frank, absolutely livid.

Around 8:30 pm (in the middle of my D&D game no less), I finally get a call. To their credit, it was very much a “We fucked up” phone call and there was an apology. They said they would be giving us a $2300 credit from their end for the inconvenience; we’ll get a check back at closing. So, yay. There’s that at least. I ask if they are sending everything to Title now. Nope. They need the auditor to give it the green light and then they can do that. This should, apparently, be a really quick process the next morning and then they can get everything to the title company. At this point, I am highly skeptical of this, but not much I can do. Also, due to the professional relationship, I was also asked if I would be able to forgive them. 🙄 When they haven’t even done their jobs fully yet. Rather than answer that, I just say that we’ll see what happens tomorrow with the auditor and go from there.

So, we await the next day for Closing Day in Part Two.

Now, I know what you are thinking: Why are you splitting these posts up? Is it that remembering all this brings back the rage? Is it that you aren’t used to writing over 500 words in one post anymore? Are you making sure you have blog posts for all of October? Well, I say, “Why can’t it be all of the above? 😅” I’ll see you for Part Two.

Feature Photo by Alessio Soggetti on Unsplash