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Help Still no clear to close 2 days before closing!!

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Beci43
New Visitor

Help Still no clear to close 2 days before closing!!

I'm currently trying to close on my first home and very concerned! I received a few weeks ago the conditions for the conditional approval and met all of those on Thursday as one was needing my Feb month end paystub. My loan officer was trying to get a clear to close yesterday and it didn't happen. My LO told me due to UW needing more stuff from the builder/seller. She said they asked for a conditional closing but the UW said no. 
Couple of questions

 

has anyone ever been waiting on a clear to close due to needing more stuff from the seller?

 

Does anyone know what exactly a conditional closing is? Any ideas why the UW would not allow this for me?

 

im worried the UW is going to want another whole list of stuff come Monday (day before we close) that they could of already asked me for since I know they did verify my employment again yesterday. 

Message 1 of 3
2 REPLIES 2
GreatLife
Regular Contributor

Re: Help Still no clear to close 2 days before closing!!

If this is new construction then perhaps UW is in process of verifying something regarding the builder, municipality, or property insurance. Could be something simple such as occupancy permit from the municipality, builder certifying that all subs & suppliers were paid, or insurance policy sufficiently covers value of the new structure.

Message 2 of 3
pgk500
Member

Re: Help Still no clear to close 2 days before closing!!

Can you provide an update how did it go? I am in the exact same Situation. All good from my end but awaiting some final contract from the builder closing on Tuesday and it's already Saturday with no clear to close ?

Message 3 of 3
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