Jump to content
Kimbear

Closing on a house, taking Early Possesion

By Kimbear in Moving to the US and Your New Life In America

 Share

13 posts in this topic

Recommended Posts

Kimbear Experienced

Kimbear   53

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
Posted

Morning Fellow VJ'ers.

We are about a month away from closing on our house purchase that has been in the works for quite a few months now. However, due to some personal issues, we have requested from our lawery / realtor that we can get early possesion of the house, meaning we get to move in and get the keys before closing.

Now i know ther are some issues to be aware of, my lawer has already advised me of the many things that can go wrong. In my case the owners live in California, the house is in Illinois, and they rather like the idea as the house wont be empty and will not get possibly broken into etc. while we wait for the closing to happen.

I was wonderining if anyone how has bought a house, has tried this and what your experiences were?

Thanks!

HWDWm6.png

Link to comment
Share on other sites
NigeriaorBust Grand Master

NigeriaorBust   4,087

Posted
Filed: Citizen (apr) Country: Nigeria
 Timeline
Posted

Have you thought of renting it from the owner until closing ? They don't like you moving in until you own it because they don't want the possibility of an eviction. But if you rent it from the owner then it isn't on the bank getting you out iif things fall through.

This will not be over quickly. You will not enjoy this.

Link to comment
Share on other sites
Kimbear Experienced

Kimbear   53

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
  • Author
Posted

Have you thought of renting it from the owner until closing ? They don't like you moving in until you own it because they don't want the possibility of an eviction. But if you rent it from the owner then it isn't on the bank getting you out iif things fall through.

We have, but because this is a Short Sale, the owners can't do this. They are not allowed to make any money on the house what so ever, and the rental income would screw up their hud 1 settlement paperwork with the bank, and possibly get the short sale cancelled..at least this is how it was explained to me. or somethign liek that anyway.

HWDWm6.png

Link to comment
Share on other sites
sheeshkabelle Proficient

sheeshkabelle   153

Posted
Filed: IR-1/CR-1 Visa Country: Canada
 Timeline
Posted

We have, but because this is a Short Sale, the owners can't do this. They are not allowed to make any money on the house what so ever, and the rental income would screw up their hud 1 settlement paperwork with the bank, and possibly get the short sale cancelled..at least this is how it was explained to me. or somethign liek that anyway.

Correct.

The bank doesn't like early possession in case things fall through before closing. The also don't like the fact you could be living there one or two months 'mortgage free'.

If your lawyer has given you all the facts, and what could happen, the owners agree, you will probably not have an issue.

We did take early possession of our house, but it was only about a week and a half before closing. The owners were in agreement and we didn't have any problems what so ever.

USCIS- 260 Days

6/8/11~ Mailed I-130 Application, withdrew Canadian PR application
6/16/11~ NOA1 email and text message Case routed to CSC (Priority Date)
7/12/11~ The 'Money Order' Incident/Returned to Tennessee
8/03/11~ TOUCHED!
3/2/12~ APPROVED! NOA2!

NVC Electronic Processing- Montreal- 19 Days

3/21/12~ Received case number & IIN 20 Days after NOA2
3/21/12~ Sent in opt-in email
3/22/12~ Opt-in accepted
3/23/12~ DS-261 Submitted, never accepted
3/29/12~ AOS bill invoiced and paid
3/30/12~ AOS shows PAID- AOS Package emailed/received, DS-3032 emailed/accepted
4/2/12~ IV bill invoiced and paid
4/3/12~ AOS Checklist documents emailed(first time)
4/4/12~ IV shows PAID- DS-260 submitted/ IV Package emailed/received
4/4/12~ AOS Checklist documents sent again for CYA (second time)
4/5/12~ IV package accepted! No Checklists!
4/6/12~ AOS Checklist emailed(third time)
4/9/12~ AOS packet accepted (finally)
CASE COMPLETE!!

Interview 354 days from NOA1/ 362 days from initial filing date
5/29/12~ Medical@ Medisys, Montreal
6/4/12~ Interview APPROVED!!!
08/07/2012~ POE Emerson, MB/Pembina, ND by land
08/09/2012~ HOME!! 424 days from initial filing date!
08/14/2012~ SSN Received
09/10/2012~ Received Green Card

Link to comment
Share on other sites
Kimbear Experienced

Kimbear   53

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
  • Author
Posted

Correct.

The bank doesn't like early possession in case things fall through before closing. The also don't like the fact you could be living there one or two months 'mortgage free'.

If your lawyer has given you all the facts, and what could happen, the owners agree, you will probably not have an issue.

We did take early possession of our house, but it was only about a week and a half before closing. The owners were in agreement and we didn't have any problems what so ever.

Ya apprently we are at the last stage, just waiting for the final investor approval now. althouh i kind of got a heart attack this am. for some reason, my husband calls it women's housebuying intuition, i decided to check the local forclosure listing sites and i noticed the bank scheduled an auction. Its for the end of June. and i kind of freaked out, but was told thats normal, and that they won't postpone it or cancel it until later. I guess i thought with an offer pending it would not even go that far as to be listed for auction.

HWDWm6.png

Link to comment
Share on other sites
sheeshkabelle Proficient

sheeshkabelle   153

Posted
Filed: IR-1/CR-1 Visa Country: Canada
 Timeline
Posted

Ya apprently we are at the last stage, just waiting for the final investor approval now. althouh i kind of got a heart attack this am. for some reason, my husband calls it women's housebuying intuition, i decided to check the local forclosure listing sites and i noticed the bank scheduled an auction. Its for the end of June. and i kind of freaked out, but was told thats normal, and that they won't postpone it or cancel it until later. I guess i thought with an offer pending it would not even go that far as to be listed for auction.

Holy moly I would have had a cow! I guess since there was no 'closing' they listed it, even with an offer.

Good luck!

USCIS- 260 Days

6/8/11~ Mailed I-130 Application, withdrew Canadian PR application
6/16/11~ NOA1 email and text message Case routed to CSC (Priority Date)
7/12/11~ The 'Money Order' Incident/Returned to Tennessee
8/03/11~ TOUCHED!
3/2/12~ APPROVED! NOA2!

NVC Electronic Processing- Montreal- 19 Days

3/21/12~ Received case number & IIN 20 Days after NOA2
3/21/12~ Sent in opt-in email
3/22/12~ Opt-in accepted
3/23/12~ DS-261 Submitted, never accepted
3/29/12~ AOS bill invoiced and paid
3/30/12~ AOS shows PAID- AOS Package emailed/received, DS-3032 emailed/accepted
4/2/12~ IV bill invoiced and paid
4/3/12~ AOS Checklist documents emailed(first time)
4/4/12~ IV shows PAID- DS-260 submitted/ IV Package emailed/received
4/4/12~ AOS Checklist documents sent again for CYA (second time)
4/5/12~ IV package accepted! No Checklists!
4/6/12~ AOS Checklist emailed(third time)
4/9/12~ AOS packet accepted (finally)
CASE COMPLETE!!

Interview 354 days from NOA1/ 362 days from initial filing date
5/29/12~ Medical@ Medisys, Montreal
6/4/12~ Interview APPROVED!!!
08/07/2012~ POE Emerson, MB/Pembina, ND by land
08/09/2012~ HOME!! 424 days from initial filing date!
08/14/2012~ SSN Received
09/10/2012~ Received Green Card

Link to comment
Share on other sites
Deputy Purple Experienced

Deputy Purple   1,294

Posted
Filed: Country:
Timeline
Posted
Ya apprently we are at the last stage, just waiting for the final investor approval now. althouh i kind of got a heart attack this am. for some reason, my husband calls it women's housebuying intuition, i decided to check the local forclosure listing sites and i noticed the bank scheduled an auction. Its for the end of June. and i kind of freaked out, but was told thats normal, and that they won't postpone it or cancel it until later. I guess i thought with an offer pending it would not even go that far as to be listed for auction.

Don't freak out about that, the bank is just protecting their interest in the property. In Illinois the foreclosure process is lengthy and currently the available auction slots are filling-up fast. It used to be that a foreclosure auction was scheduled for less than 2 months out (I believe the property owner only needs 30 days notice) but now they are 3, 4 or more months out because of the backlog.

Any short sale will require the bank's blessing and if they get wind of you taking possession early that might sour the deal for them as it exposes them to more risk.


Must have info for bringing your Philippine wife/fiancee's child to the US



A Good Example of why to NEVER use a Fixer in the Philippines

Link to comment
Share on other sites
Kimbear Experienced

Kimbear   53

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
  • Author
Posted

Well i dont have to worry about getting early possession anymore. lol they approved the sale and gave us early access anyway !

Thanks for the replies all!

HWDWm6.png

Link to comment
Share on other sites
Ontarkie Grand Master

Ontarkie   13,904

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
Posted

Congrats!! Is this the same house you posted about before?

Spoiler

Met Playing Everquest in 2005
Engaged 9-15-2006
K-1 & 4 K-2'S
Filed 05-09-07
Interview 03-12-08
Visa received 04-21-08
Entry 05-06-08
Married 06-21-08
AOS X5
Filed 07-08-08
Cards Received01-22-09
Roc X5
Filed 10-17-10
Cards Received02-22-11
Citizenship
Filed 10-17-11
Interview 01-12-12
Oath 06-29-12

Citizenship for older 2 boys

Filed 03/08/2014

NOA/fee waiver 03/19/2014

Biometrics 04/15/14

Interview 05/29/14

In line for Oath 06/20/14

Oath 09/19/2014 We are all done! All USC no more USCIS

 

Link to comment
Share on other sites
Kimbear Experienced

Kimbear   53

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
  • Author
Posted

Congrats!! Is this the same house you posted about before?

OH lordie..i was gonna surprise you all in the Canada forum :P

This is like the 5th house we've tried to buy since last February. lol.. Finally after a year of total home buying stupidity, we got one :) I'll post some pics soon as i can. In the meantime i'm a go scream a few times to make sure its not a dream. XD

HWDWm6.png

Link to comment
Share on other sites
Ontarkie Grand Master

Ontarkie   13,904

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
Posted

LOL so happy things finally worked out, can't wait for the pics.

Oh and make sure you jump up and down and pinch everyone while your at it.

Spoiler

Met Playing Everquest in 2005
Engaged 9-15-2006
K-1 & 4 K-2'S
Filed 05-09-07
Interview 03-12-08
Visa received 04-21-08
Entry 05-06-08
Married 06-21-08
AOS X5
Filed 07-08-08
Cards Received01-22-09
Roc X5
Filed 10-17-10
Cards Received02-22-11
Citizenship
Filed 10-17-11
Interview 01-12-12
Oath 06-29-12

Citizenship for older 2 boys

Filed 03/08/2014

NOA/fee waiver 03/19/2014

Biometrics 04/15/14

Interview 05/29/14

In line for Oath 06/20/14

Oath 09/19/2014 We are all done! All USC no more USCIS

 

Link to comment
Share on other sites
TBoneTX Grand Master

TBoneTX   43,022

Posted
Filed: Citizen (apr) Country: Ecuador
 Timeline
Posted

Casa-gratulations, si man, eh! :)

06-04-2007 = TSC stamps postal return-receipt for I-129f.

06-11-2007 = NOA1 date (unknown to me).

07-20-2007 = Phoned Immigration Officer; got WAC#; where's NOA1?

09-25-2007 = Touch (first-ever).

09-28-2007 = NOA1, 23 days after their 45-day promise to send it (grrrr).

10-20 & 11-14-2007 = Phoned ImmOffs; "still pending."

12-11-2007 = 180 days; file is "between workstations, may be early Jan."; touches 12/11 & 12/12.

12-18-2007 = Call; file is with Division 9 ofcr. (bckgrnd check); e-prompt to shake it; touch.

12-19-2007 = NOA2 by e-mail & web, dated 12-18-07 (187 days; 201 per VJ); in mail 12/24/07.

01-09-2008 = File from USCIS to NVC, 1-4-08; NVC creates file, 1/15/08; to consulate 1/16/08.

01-23-2008 = Consulate gets file; outdated Packet 4 mailed to fiancee 1/27/08; rec'd 3/3/08.

04-29-2008 = Fiancee's 4-min. consular interview, 8:30 a.m.; much evidence brought but not allowed to be presented (consul: "More proof! Second interview! Bring your fiance!").

05-05-2008 = Infuriating $12 call to non-English-speaking consulate appointment-setter.

05-06-2008 = Better $12 call to English-speaker; "joint" interview date 6/30/08 (my selection).

06-30-2008 = Stokes Interrogations w/Ecuadorian (not USC); "wait 2 weeks; we'll mail her."

07-2008 = Daily calls to DOS: "currently processing"; 8/05 = Phoned consulate, got Section Chief; wrote him.

08-07-08 = E-mail from consulate, promising to issue visa "as soon as we get her passport" (on 8/12, per DHL).

08-27-08 = Phoned consulate (they "couldn't find" our file); visa DHL'd 8/28; in hand 9/1; through POE on 10/9 with NO hassles(!).

Link to comment
Share on other sites
Kimbear Experienced

Kimbear   53

Posted
Filed: Citizen (apr) Country: Canada
 Timeline
  • Author
Posted

heh ty :) My faith in the RE industry has been restores. I'm just so happy we ended up with a stellar team. From the realtorl, to my lawyer who i liked from the first house and kept, and even the sellers lawyers who stayed on the ball no matter what. and of course my loan officer at US Bank who had everything already done given to the underwriter and ready to go.

If anyoen wants to buy a houe in Chicago let me know and i'll give you their names. Awesome job they did. soooo happy :)

HWDWm6.png

Link to comment
Share on other sites
 
Didn't find the answer you were looking for? Ask our VJ Immigration Lawyers.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share
Go to topic listing
- Back to Top -

Important Disclaimer: Please read carefully the Visajourney.com Terms of Service. If you do not agree to the Terms of Service you should not access or view any page (including this page) on VisaJourney.com. Answers and comments provided on Visajourney.com Forums are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Visajourney.com does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. VisaJourney.com does not condone immigration fraud in any way, shape or manner. VisaJourney.com recommends that if any member or user knows directly of someone involved in fraudulent or illegal activity, that they report such activity directly to the Department of Homeland Security, Immigration and Customs Enforcement. You can contact ICE via email at Immigration.Reply@dhs.gov or you can telephone ICE at 1-866-347-2423. All reported threads/posts containing reference to immigration fraud or illegal activities will be removed from this board. If you feel that you have found inappropriate content, please let us know by contacting us here with a url link to that content. Thank you.
×
×
  • Create New...