I recently wrote an article: 'Getting ready for closing day'. It contained tips for the borrower. One item that I didn't include was 'Be on time'.
Being on time for your closing can mean the difference between your loan documents being shipped out that day and not.
Last night was an example. I had a closing scheduled for 6 p.m. I knew going into the closing that it would be impossible to get the loan documents out if I dropped them in a drop box. 6 p.m is when the courier makes the pick up. But I could get the documents shipped that evening if I took them to the shipping center, where they accept packages as late as 7:30 p.m.. It's more than a 20-minute drive, so I would have to be done with the closing by 7 p.m. It was Thursday evening, and the documents would be delivered on Friday -- the next day.
The husband was there when I arrived at 6 p.m, but his wife wasn't. I didn't want to waste any time, so I started the signing without her. The husband was finished signing around 6:35. It was around that time that his wife arrived. I had to start all over from the beginning.
If she had been there on time, the signing would have been completed in enough time for me to get the documents delivered that evening. I wouldn't have minded making the 10-mile drive. I probably could have still made it, but I would have had to drive over the speed limit.
Instead, the documents will go out on Friday morning, and they will reach their destination on Monday.
Being on time can mean that your closing will take place at the time that you want.
The notary signing agent may have another closing to attend. If one or both of the borrowers are late, it may put the signing agent in a position where they have no alternative but to reschedule your closing so that they aren't late to the next one. That will mean that, if your closing was supposed to take place at 5 p.m., it might be 8 p.m. (or later, depending on how far they have to drive) before the signing agent completes the closing and is able to make it back to you.
These are just a couple of reasons.
Being on time for your closing can mean the difference between your loan documents being shipped out that day and not.
Last night was an example. I had a closing scheduled for 6 p.m. I knew going into the closing that it would be impossible to get the loan documents out if I dropped them in a drop box. 6 p.m is when the courier makes the pick up. But I could get the documents shipped that evening if I took them to the shipping center, where they accept packages as late as 7:30 p.m.. It's more than a 20-minute drive, so I would have to be done with the closing by 7 p.m. It was Thursday evening, and the documents would be delivered on Friday -- the next day.
The husband was there when I arrived at 6 p.m, but his wife wasn't. I didn't want to waste any time, so I started the signing without her. The husband was finished signing around 6:35. It was around that time that his wife arrived. I had to start all over from the beginning.
If she had been there on time, the signing would have been completed in enough time for me to get the documents delivered that evening. I wouldn't have minded making the 10-mile drive. I probably could have still made it, but I would have had to drive over the speed limit.
Instead, the documents will go out on Friday morning, and they will reach their destination on Monday.
Being on time can mean that your closing will take place at the time that you want.
The notary signing agent may have another closing to attend. If one or both of the borrowers are late, it may put the signing agent in a position where they have no alternative but to reschedule your closing so that they aren't late to the next one. That will mean that, if your closing was supposed to take place at 5 p.m., it might be 8 p.m. (or later, depending on how far they have to drive) before the signing agent completes the closing and is able to make it back to you.
These are just a couple of reasons.
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