Profile picture for sshell07

can our bank reject our loan if the new home we are purchasing does not officially have a tax id?

just this tuesday, we received word from our broker that our loan had been approved by the underwriter.  literally, the next day our mortgage broker contacted us again saying not to release our loan contingencies until title and escrow conditions had been satisfied.  basically, we are purchasing a new home, and when the builder completed the home and put it on the market, he had not received the tax id number yet from the county assessor.  is this something that would allow a bank to reject our loan?  what should our next steps be?
  • August 31 2013 - US
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Answers (1)

Profile picture for PamKrichev
The closing agent or attorney will do the title work and arrange for the deed to be recorded. I've sold several properties that didn't have a Tax ID number until they changed hands for the first time. This shouldn't impact your loan. The lender will just need the legal description that will appear on the deed.
  • August 31 2013
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