Our mortgage broker told us we could close within 14-21 days. Our lease ends on June 30. The house needs new flooring, which is covered by a repair escrow built into the home purchase.
I'm mapping out June and realize we have to close, install flooring, paint AND move in before the end of the month. If everything goes smoothly, we would close on June 22, paint that weekend, bring in flooring early that next week and move in before our lease ends with time for a post-moveout inspection of our apartment.
If we can't close until the end of the month, I don't know what we'll do. I think we could move all our stuff into the garage, then try to get the work done in stages. It won't be comfortable, but we may have to do it.
The agent says he asked HUD about moving up the closing date, but hasn't received a reply. I asked our mortgage broker, who also hasn't responded yet.
We're supposed to receive our signed sales contract from HUD soon, and the agent said he'd send it to the mortgage broker.
Until then, HUD suggests we get a home inspector for our own protection. The agent suggested that the house was in such good shape and was so new that we probably could save our money and just get a pest inspection. HUD performed an in-depth property analysis, which was posted on the Internet, which is very similar to an inspection. Since HUD homes are sold 'as is,' an inspection won't help price negotiations.
Taking the agent's advice, I called a local pest service and scheduled an appointment for Monday morning. I plan to bring a tape measure and graphing paper to take measurements while he works.
I hope there are no surprises with the pest inspection. The agent said since the home is on a concrete slab, there shouldn't be a termite problem. I guess we'll know after tomorrow.
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