Profile picture for jameskim80

the bank approved me so how long do i need to wait to move in new home?

I signed the contract that I'm agree with bank approved price ( 120k ) and seller signed that too. (Form 34)
BUT On the form 34 says " Closing shall be on or before 2/20/14"
so i asked agent why are you talk is different now?
and he said " sometimes the bank takes longer because seller and bank needs to do some paper works. so i asked him again " why didn't you tell me that? i cancel most of my utilities here already"
then he said " it says 2/20/14 or before but i don't know when"
I signed the form 34 Jan 6 2014.

here is my questions.

1. whats the average time to do closing ?
2. when can I move in? ( seller is still living in that condo )
3. why my agent talks different now? before i offered this condo he said it will take about 2-3 weeks then i can move in if i offer bank approved price. but now i have to wait almost 1 1/2(45 days) to move in that condo. anyone know why?
4. should i hire inspector or let my agent do that? which one is better?
   my agent is keep saying he will do that for me. but someone told me sometime agent hires dumb inspector so when dumb inspector inspects the home he really doesn't care and inspect just couple things .. NOT IN DETAIL... what should i do?
5. Since I'm purchase home cash ($120,000) how much is the closing fee?
     one of agent in here told me if I'm paying cash than it should be around $1000-$2000 (1-2k)  and if you have a loan then it should be around $4000-$6000 (4-6k) 
   how much is average closing fee when you pay cash about $120k ?
   #5 question  is Very important.. because my agent is keep saying i need about $5000(5k) so i asked him why is so much even i paying cash and he said if i get a loan then the closing fee it will be $6000~$7000. is that true?

Please Help me !!
  • January 08 - South End
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Answers (3)

If you don't have confidence in your agent, I suggest you sit down with his Broker and ask him  these questions.

It seems the communication has not been good between you.

Best wishes.........
  • January 08
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Profile picture for wetdawgs
Most of these questions we've answered for you already.  If you wish to find your old posts, please click on you profile and then you'll be able to find previous posts and answers

You need to work with your agent.
  • January 08
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Profile picture for jameskim80
Can i still cancel the contract without any fee charging?
my agent has my $500 earnest money check ( its my personal check)
and i asked him can i still cancel this condo without any fee charging
then he said its a 50 / 50 the bank could charge my $500 because i canceled 
and they might not charge. 

here is my another question.

1. is my agent lying? because he wants to sell the home?
2. i don't know why they charge my $500 earnest money ? the bank didn't even approved me OFFICIALLY on the paper. my agent told me the bank pre-approved on the phone now. but this is my condo when i pay closing fee and pay 120k.
3. will bank really going to charge my $500 if i cancel the home? i didn't even inspect that house all i did was singed form 34 and 35.
  • January 08
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