I’ve been practicing law since 2011. During that time, I have assisted clients with countless real estate closings, and, while every closing is different, they uniformly share one commonality: I don’t have to ask anyone, “when are we going going to close?” Before I ever get the chance to ask that question, I’m getting emails with a closing date, time, and, location. That is, at least, how it always was. As I type this post, I have multiple closings which are languishing, as the underwriters insist on ever more documentation. One required a survey – and, not just any survey… an embossed survey. I have never had a lender require a survey prior to this closing. Another underwriter rejected financial estate questionnaires which were submitted by two separate (very experienced) attorneys, representing two separate estates that were involved in the deal, and, one of the questionnaires was completed by a CPA! The underwriter claimed that the submitted documents were plainly deficient. The title agent confided in me that this is happening across the board, with all of their closings. My practice began amidst the ashes of the Great Recession. I don’t know if that event was preceded by similar warning signs that something was off, but, I feel a sense of foreboding. I am afraid that something wicked this way comes.
thereluctantcommentator 