I hate having to rely on other people in this industry. It seems I either find the incompetent/slow ones or the industry is chalk-full of them. I called the mortgage rep a week ago this past Tuesday to get a loan package. This past Tuesday, I called him as I hadn't received it yet. He said all those things get routed through the main office, but I should be getting it "any day" now. He said to call him back in a couple of days if I still haven't gotten it. Today, I realized I still hadn't gotten it, so I called him back and he just couldn't understand why I hadn't gotten it yet. I told him if he could overnight another one to me as the contract's been signed and the clock is ticking now, and he said they don't have the means to do it. Huh?!?! Hello, this is 2007 - not 1950. I then asked if there was someone at the main office I could talk to to expedite the process, and he said "not really", but that he "would try to get the matter resolved". I told him to call me back ASAP today with an answer. If I don;t hear from him today, I think I'll just talk to someone at the main office directly, or, better yet, go with another lender altogether (even though the rates are attractive).
Update: My wife called me in the afternoon and said the loan package had arrived. Finally.
On a semi-happier note, I got hold of an inspection company local to the property, which the agent highly recommended. I talked to a very pleasant lady there, who started asking me questions I had no idea what the answers were. She said she'd talk to my agent directly and get back to me. She called several minutes later and said she couldn't get hold of her, but left her a message. She said once she gets the answers from the agent, she'll call me back to tell me "what I'm looking at" in regards to the inspection.
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Hey, Steve! Glad to hear you're moving right along with your new 4-plex! The inspectors around my area charge based on the amount of square feet in a building. Is that what they were asking you--how big it is?
Also, you should make sure that they inspect every unit for defects.
Hi Trisha - Yes, that was one of the questions. The lady gave me a rundown on everything they inspect, and added that he is the only "mold remediation" person in the area and inspects for it as well (which is included in the price). The entire property is less than 2,000sf, and the lady say they will charge $150/unit (i.e., $600), which is actually about $200-$300 less than I was anticipating. The only qualm I had is that they don't take CC's, so I have to overnight them a check. :-(
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