Three Day Rule Disclosure May Delay Moving Day

AMWAT Moving Warehousing Storage – Three Day Rule Disclosure
The Integrated Mortgage Disclosures under the Real Estate Settlement Procedures Act (Regulation X) and the Truth In Lending Act (Regulation Z) became into effect on October 3, 2015. The three day disclosure requires that consumers receive the Closing Disclosure at least three business days before closing on the mortgage loan. Currently, consumers often receive this information at closing or shortly before closing. This additional time will allow consumers to compare the final terms and costs to the terms and costs they received in the estimate. Hence, this will better equip consumers to raise any questions before they go to the closing table.

The three day disclosure waiting period will impact AMWAT’s ability to delivery our client’s possessions into the new residence pending closing. AMWAT will hold client’s items in the moving truck overnight if the truck is not scheduled for subsequent moves and, the customer chooses to keep items in the truck. NOTE: this is only if the truck(s) is available. Otherwise, we will have to unload client’s belongings into warehouse for storage and reload on delivery date. We will leave all moving pads on the furnishings.  Overnight Storage on Truck(s) strictly depending on truck’s availability

Temporary Warehouse Storage

In the event the truck is not available, AMWAT will be forced to unload client’s belongings into temporary storage and will reload once client has access to their new residence. AMWAT will send an estimate detailing charges for the additional services required as a result of the three day rule.

It is our intent to work with our customers during this unforeseen delay. We are very cognizant of unexpected costs to our clients and will work as much as possible to reduce costs associated with the three day waiting period. However, we must recover our costs for extended exposure to liability, loss of use of equipment and materials, additional labor and storage. Please contact us at 850-877-7131 if you have any questions or concerns.

We appreciate your business greatly.

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