As for your appraisal, that all depends on when they can schedule it in. That could be a couple of days from now, or it could be a couple weeks. Your loan agent is probably scheduling it for you. And if you already paid for it, then make sure they don't try to get you to pay for it a second time.
It is normal to pay for an appraisal up front, even if the money for the appraisal is placed in the escrow.
It is not uncommon for a mortgage sale to extend past the closing estimated date. This date is a estimate and is not etched in stone.
You have many professionals working on your behalf to see that your sale transaction close in a timely manner, not necessarily on the date estimated to close.
You should be asking this question of your mortgage loan officer, real estate agent or mortgage underwriter. In some form of the other you are paying these individuals to assist you in the close of your transaction. Call these professionals and ask questions you have.
In order not to be stressful of a procedure you are not familiar with, you should inquire of those that know, they are your professionals that go through this on a daily basis.
It is too late to ask questions once the transaction is closed. You will not get a do over, you would be required to pay your monthly mortgage payment.
You should be aware of your monthly mortgage payment, if you are required to pay your insurance and county property taxes each month with your monthly mortgage, called an impound account or escrow account.If you are required to pay these through your monthly mortgage how much would this be in additional to your monthly mortgage.
You should know by now how much you would need for closing cost and when you are required to have it in the escrow or title company accounts.
I hope this has been of some benefit to you, good luck.
"FIGHT ON"
These individuals have a ball park guess as to when the appraisal would be submitted to the underwriter as in most instances they have had prior experience with this appraiser and probably have made telephonic contact to see if the appraisal would be completed on time or close to the date the underwriter would need it.
The bank of the seller has no need to see your mortgage application,and your mortgage lender would probably not provide them with personal information or your application to them.
The current mortgage lender of the seller, is required to send a demand to the escrow stating what the current mortgage balance is and where to send the payoff balance. The demand would also state when this demand would be null and void and another would need to be requested. This is not uncommon in a real estate sales transaction.
You need to ask your realtor and your mortgage broker exactly what is going on and what is expected.
As the others have said, your post makes no sense.
Why would the sellers bank need a mortgage application.
Why would the sellers bank care when closing is (except on a short sale which this is not with a 16 day escrow).
Many many home sales go beyond the contracted closing date. 99% of the time, the seller will be perfectly happy working with you to flex a day or two instead of starting the whole process over and having to pay another month or two worth of their mortgage. It is frustrating for sure.
Also, why would you pay for an appraisal before the service was rendered? That sounds fishy.
Your post doesn't make sense. Why would the seller's bank need a mortgage application?
I would like to buy a home around 50, 000.00 for investment
this should be tracked by your agent. talk with them
I'm closing on my first home on the 20th but the bank of the seller I believe needs the mortgage application or whatever on the 16th and I filled out forms for my lender last week on Thursday and an appraisal was supposed to be done etc,I paid for it and I'm not sure when it is supposed to be done,haven't heard anything from my lender and I'm getting anxious. Paid almost $700 for the appraisal and it was put on a rush order
