Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago on . Most recent reply

Account Closed
  • Astoria, NY
36
Votes |
45
Posts

What is "post com advance?" (NYC foreclosure)

Account Closed
  • Astoria, NY
Posted

Hey all,

The closing on a house I'm pending on just got adjourned, and I don't understand why. The email from the bank's lawyers states:

"As requested by Mr. Wank [the referee] we need to obtain proof of post com advance made by our client. As such closing cannot occur tomorrow and has to be adjourned."

What does this mean?

Most Popular Reply

User Stats

31
Posts
24
Votes
Susan Smith
  • Investor
  • Richmond, VA
24
Votes |
31
Posts
Susan Smith
  • Investor
  • Richmond, VA
Replied

I've heard of post closing advances and corp advances but post "com" has me and my peers here at the bank stumped.  Here at the bank we don't always know what our attorney or paralegal is attempting to convey when they throw an abbreviation like "com" on the table.  So, we just refer back to the attorney and ask: "what's post com advance mean?"  

The paralegals are usually friendly and willing to clarify.

Loading replies...