LENDER DOCUMENTS TO BE AT TITLE COMPANY 48 HOURS PRIOR TO BUYER SIGNING - This means documents need to be at title 48 hours prior to scheduling appointment for buyer.
FANNIE MAE TAKES THREE (3) BUSINESS DAYS TO EXECUTE SELLER CLOSING DOCUMENTS AFTER SUBMISSION - Complete loan package and hud approval is required prior to submission, recording will not occur for at least Three (3) Business Days after submission.
POSSESSION CAN ONLY OCCUR AFTER RECORDING - So please plan on signing at least Three Days prior to when your client wants possession of the property.
CLOSING DEADLINE ON THE FANNIE MAE ADDENDUM IS THE RECORDING DEADLINE, NOT THE SIGNING DEADLINE - Transaction must be funded and recorded by that date.
ALL THE PARTIES ON THE REPC MUST MATCH ON THE LOAN DOCUMENTS- Parties can't be added to or removed from the loan without an amendment to the contract.
