Does clear to close mean I got the house?
“Clear to close” means an underwriter has approved your loan documents and that any conditions that were required for the loan to be approved have been met.
It also means your lender is ready to confirm your closing date with the title company or attorney..
What could go wrong at closing?
One of the most common closing problems is an error in documents. It could be as simple as a misspelled name or transposed address number or as serious as an incorrect loan amount or missing pages. Either way, it could cause a delay of hours or even days.
Can anything go wrong after clear to close?
Bottom line, yes, your loan can be denied after a ‘clear to close. ‘ It’s up to you to keep everything the same that is within your control to ensure that you still have the loan you want.
What if buyer delays closing?
Your purchase agreement also may state that a buyer who misses the original closing date must pay the seller a penalty, such as a flat fee or a daily charge for each day past the original closing date, compensating the seller for additional tax, insurance, and mortgage payments in the interim.
Do they run your credit the day of closing?
The answer is yes. Lenders pull borrowers’ credit at the beginning of the approval process, and then again just prior to closing.