loan commitments: Agent's time to scream!! Buyers need to stop diddling around
- 11/14/08 09:55 AM
If you don't know already, the conforming loan limit is being set back to the previous level of $625,000 from the current $729,750 amount for any property that doesn't close by December 31st, 2008. Are you aware of the major impact of this? If you have a buyer in this range who is diddling around need to get into contract quickly since we are coming on end of the year quickly.
In many markets, this is big time house but in many urban areas, including most of california, this is entry level house in many areas. So, this will impact … (2 comments)
Guy Berry is a frequent expert witness in real estate litigation and an accomplished trainer in real estate law and contracts. In addition he has been licensed for 30 years as an agent and managed large offices, including Coldwell Banker and Century 21.
If you don't know already, the conforming loan limit is being set back to the previous level of $625,000 from the current $729,750 amount for any property that doesn't close by December 31st, 2008. Are you aware of the major impact of this? If you have a buyer in this range who is diddling around need to get into contract quickly since we are coming on end of the year quickly.
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