Kevin Standlee (kevin_standlee) wrote,
Kevin Standlee
kevin_standlee

Not Quite Closed

Lisa and I went into Reno yesterday to pay the rest of the money (and the closing costs and property taxes) for Fernley House, after stopping at Lisa's insurance agent to add homeowner's insurance to the policy. (Until yesterday, the owner who has been renting us the house until he was allowed to sell it to us when the deed restriction ran out was responsible for the insurance.) We delivered the check and signed many papers. It turns out that the initial closing cost estimate was slightly low, which means the certified check wasn't quite enough to cover the total. This could have caused some problems; however, because the closing amount included some prepaid property taxes that didn't have to be included in the total, we were able to get around it by writing a personal check to Lyon County for the property taxes and having that line taken off of the closing amount. That takes us from slightly underpaid to slightly overpaid, and the title company will refund us the balance. The title company will send the property-tax payment on to Lyon County, and we'll be good until next July.

We're not completely done yet, though. I thought we'd be able to close yesterday, but the title company needs to do some things, and therefore the agent told us that she'd give us a call today and we could come back in to Reno late today. Assuming no further hitches, escrow should close today and we should get clear title to The House. Had I known there would have been any issues, I would have scheduled our initial appointment for Monday afternoon instead of yesterday. Still, I'm not complaining, and it could be worse. Because they do all of the deed filings electronically, they can turn it around in one day; the agent said that in the past, it could take a couple of weeks for the county recorders' offices to process and return the necessary documents.
Tags: fernley, house, lisa
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