Laguna Niguel, CA · Member since 2012 · 122 posts · 58 votes
Got an interesting situation. COE was dated 9/12. Lender funds arrived 9/12, Buyer funds arrived 9/13. Some lender conditions were not met, but lender gave authorization to disburse the funds 9/13. Escrow company is not disbursing until last piece of signed paperwork is received which will be 9/16. Once received, escrow company will record.
Laguna Niguel, CA · Member since 2012 · 122 posts · 58 votes
10y
So the lender is going to eat the interest when the wire came in on 9/12? If it is when the property records, then all the paperwork will need to be re-done and re-signed. Don't think that's going to happen either.
Laguna Niguel, CA · Member since 2012 · 122 posts · 58 votes
10y
9/12 was the official COE used in all paperwork so all fees/interest/taxes started on this day. I could not get a very good explanation about this from anyone involved in the transaction. I basically got, "it's just the way it is".