Today was supposed to be closing day for the construction contract/note. Got the package of 50 different documents totaling 119 pages late on Wednesday. Spent yesterday reading said documents, which are of course all set to cover the Lender's backside only. By end of day, knew that there was at least one big discrepancy in terms of the fulfillment of Texas statutes, and one minor. Against us, of course, and our rights under Texas law. Canceled closing for today while we get legal counsel. Luckily, the lawyer says it should not be a big deal to get them to amend the docs to comply with the requirement to document that all the bills have been paid at the end of construction, which is the biggest "hole" we found. Would be a nice thing to know, don't ya think?
So, closing early next week. Hopefully.
Wow, I didn't know you are actually supposed to READ the legal documents when you buy a house.
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