The Friday before a Monday Holiday

By
Real Estate Broker Owner with My Texas Home Real Estate

I never like to close escrow on Friday and I never put a close of escrow date in a contract for a Friday. After 24 years of selling real estate I come to find out that things can happen on Friday that can upset people. If the loan doesn't fund before Friday afternoon then it is Monday or in the case of this Friday, February 16, 2007 it will will be Tuesday before the banks are open and the funding can take place. There can also be issues with utilities not being turned on or transfered late in the week. There is nothing more heart breaking than a seller that must have the proceeds to close on the home they are moving to and a buyer excited about moving in over the weekend both having to wait until the following Monday or Tuesday if Monday is a holiday to fund. As hard as I work to close escrow on any-day but Friday some times it just happens. There are some temporary leases that may be made to help ease the situation but it is just something I don't like to have happen.

Do you have any Friday Afternoon Close of Escrow stories?

 

Posted by

Rick Irving
Broker
My Texas Home Real Estate
Fort Worth, Tx
Email: cowtown@usa.net

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Rainer
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Carole Cohen
Realtor, ePRO
Howard Hanna Cleveland City Office
Funny you should bring this up Rick. I threw caution to the wind and just scheduled April 13th (yes, Friday the 13th) as a close date. LOL.  It did give me pause for a minute but it at least is not followed by a Monday holiday :-)  At least I don't think so!
February 17, 2007 07:21 PM
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Rick Irving

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