The closing, which we could not finalize (see also 04/14/2009 post), was on Thursday. We were hopeful to complete the deal on Friday. All we needed was the adjusted and signed HUD-1 from the seller (the bank that has ownership over the property). The closing agent called at 5:00 pm to let us know that she had contacted the seller by phone, fax, and e-mail, but they had not yet signed and sent the HUD-1. There was no escape. We had to go into the weekend not knowing if—and when—we would own our little two-flat.
Why is this such a big deal for us? Well, we have been researching, planning and house-hunting for over a year. We have been after this particular two-flat since August 2008 (for 7 months now!). We just want to be done with it, own it and start the cool part—the green rehab.
The weekend passed quickly. We both kept very busy, which distracted us from waiting for Monday. Cathy called the closing agent midday Monday to inquire about any news. The agent answered the phone quietly; she said she’d seen on her Blackberry that an e-mail from the seller had arrived with an attachment! She had not yet been able to look at it because she was in the middle of another closing.
Cathy got a call back a couple of hours later: “The seller signed and returned the wrong (the old) HUD-1!” Yep, this was sort of expected. Why should they have gotten it right this time ‘round? The closing agent was very helpful and got right back on the phone. Believe it or not, the correct and signed HUD-1 form arrived only one hour later!
The closing lasted 98 hours! But finally— this is it. We are owners.
We cracked open a nice bottle of champagne (that Cathy had kept hidden in the fridge since last Wednesday) and celebrated. That said, it still has not quite sunk in. I am still thinking and waiting for the next shoe to drop, for the next road block to be tackled.