MNortgageFile

                 Have you ever gotten pre-qualified to buy a home, searched for a home, done all the paperwork associated with submitting an offer, had your home inspected, provided all the needed documentation to your lender, and actually made it to the closing table?  You thought you had it made, right?  Home free (no pun intended...)?!   But, what happens when the lender doesn't pay up?  When a currently undisclosed condition stops the closing, and the lender won't pay until that condition is met? 

          This situation is called "Closing in Escrow" and it happens on an occasional basis, no matter how good all the parties are....  Once in a while, it happens, most of the time as a surprise.  Occasionally, you go into the closing knowing that it will "Close in Escrow" and the best thing you can do is prepare all parties involved.  All the paperwork is signed, for all intense and purposes the closing is complete, only no money is exchanged, and the Seller still owns the home, and the Buyer is homeless! 

          Now don't panic!!!  More often than not, the condition is able to be met with a little bit of work from the offending party.  Once the condition has been met and the attorney verifies with the lender, approval is gained, funds are released and ownership of this wonderful home is exchanged!  Yippy!!!  NOW YOU ARE HOME FREE!!!! 

          I hope this is helpful to you!  Please email me any ideas that you would like to see me cover!  Some topics are specific to Georgia, where I practice Real Estate, and some are pretty accurate across the board. 

Blessings to you and yours!
--Darcy