What it is: Underwriting is when the bank does their final due diligence on your finances and any home/condo owners association. Usually a deal is good to go at this point, but things can and do happen.
What to expect: At this point, it is a waiting game. Once the bank finishes the underwriting they will issue a “clear to close” and we can schedule closing as early as 3 business days after the “clear to close” is issued. Please note that even if we do have a clear to close much earlier than the “close by” date on the purchase agreement, the seller or you may need to hold off until closer to the purchase agreement date.
What you will need to do: Start packing if you haven’t already!
Next step (assuming all goes well): Closing
Note: Refer to emails or your Project Dashboard for details specific to your transaction