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Steps After Inspections Through Closing

 

• Continue to go through the steps of the contract w/ providing all documents asked from title and lender

 

• Walk through – utilities won’t be on, so this isn’t a typical walk through. You are checking to make sure that the property is substantially in the same condition as when the contract was written. 

 

• Change or vandalism – if such has occurred, report to https://rainecompany.com/vandalism/. HUD can correct or make a concession.

 

• Keys - not be given at closing. Buyer must get the locks re-keyed.

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• A Ready to Close” inspection must be completed by the Listing Broker

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Closing Timelines 

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• Cash – 30 days from Date of Bid Acceptance by HUD (not ratified date)

• Financing – 45 days from Date of Bid Acceptance

• 203K – 60 days from Date of Acceptance

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Closing Protocol for Buyer Select Closing Agent

 

• BSCA must present the preliminary Closing Disclosure 5 business days prior to the scheduled closing to the Asset Manager

• Deed must also be presented to the Asset Manager 5 days before scheduled closing date - can be sent electronically