If I am the buyer, how will I know what is required to get my loan approved?

The mortgage broker or the bank officer has the responsibility to tell the borrower exactly what is needed and the buyer/borrower must accomplish these things in advance in order to minimize any delay (i.e., obtaining insurance, financial information, income verification, check copies, etc.). Ask the person who assisted you in obtaining the loan what must be completed and comply with the requests as quickly as possible. You must allow enough time to obtain appropriate insurance. A lender will ordinarily require a survey on the property. If your title company is doing the mortgage title insurance, they will usually arrange for the survey. If you wish to obtain the survey yourself, you must inform the title company assisting you as soon as possible; do not wait until the day before closing is scheduled.

Why is it taking so long to get the closing done?

The closing process can seem quite detail oriented and time consuming, but rest assured that your title company will do everything within their power to complete the closing on time. Unfortunately, the title company has no power over the lender. In any transaction, if there are extrinsic contingencies (things outside the control of the attorney), before following through with the next step, those contingencies must be complied with. If a buyer is purchasing in a condominium or homeowner’s association that requires approval, the buyer should immediately set that appointment and obtain the necessary document of approval from the association. Please remember that your contract is the document which controls everything in this closing and do not make any inconsistent statements or oral promises which differ or could be misunderstood because they may cause problems. Also, please remember that lenders and others want documents faxed to them and sometimes many copies of all documents signed. You may be charged for these costs, plus applicable courier, federal express, long distance calls, etc.

I am worried about repairs to the house that need to be done, but that I may not notice until after the closing?

Most residential real estate contracts include a paragraph about inspections. If this is the case, then an inspection should be done before the sale is complete. Buyers should be extra careful to complete the necessary inspections in a timely manner so as to comply and to meet contract deadlines. If the inspections are not done in accordance with the contract dates, all rights for the buyer may be lost.
Sometimes repair issues can cause problems. If brokers are involved, try to work with the brokers to resolve these issues. If this cannot be done, of course, your attorney should assist you, but that takes additional time for which you may be charged.