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How can you get a bank to speed up a closing

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July 28 2012 - US
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Best Answer
Depends on how the bank is involved. Is it a short sale, REO bank owned or regular loan they need to approve? Actually the answer is the same, banks are like snails and move at their own pace and not much you can do to hurry them up much.
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July 28 2012
I'm always one for the proactive approach.
Ask your loan officer for the specific steps and departments your loan process entails. Ask for estimated timing on each one of these steps. Some are done simultaneously others cannot be started till one dept is complete. Question, constantly what s the progress is in each step. Some banks allow direct contact in the dept.s. Get the contact info.
Is your appraisal done? 
Be a squeaky yet polite wheel. Check in with the officer often.
Good luck
Chris Gubb
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January 14 2013
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@ Ron-----What? "Double the offer and pay cash?" from reading the last post cash is being paid and nobody want to pay double anything!...lol 

You can speed up the process by acting as if you're ready to walk away from the deal....granted that the approval and appraisal has been completed and all the required docs received. Sometimes the Loan Office can make a few calls and get your docs pushed to the front. 
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January 14 2013
When you find the answer to this question, let me know.
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July 28 2012

Unfortunately you can't, the bank has every right to take their time. They are loosing money, and how and when they loose that money will impact their liquidity and their books.

They are not delaying the process to annoy anyone, and waiting is one of the things any home buyer has to be ready for when purchasing a short sale or REO.

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July 28 2012
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The answer is that it is a bank owned & we are paying cash , And yes you are correct they move like snails . I just did'nt know if we are the only people that are having trouble like this .
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July 28 2012
Double your offer and pay cash!
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July 28 2012
 
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