Take a look at the calendar with me. Are you trying to close a first time home buyer before the tax credit expires? Do you have a first time home buyer purchasing one of your listings? Please take a look at the calendar with me.
Nov 25th is the Wednesday before Thanksgiving. Most title companies will be closed both Thurs and Fri, last day to fund is the Monday after Thanksgiving.
Not much time left? Yes we know that.
Did you realize that if you have a VA buyer, VA appraisers have 10 days to deliver the appraisal report?
Hmmm, so if you order a VA appraisal on Nov. 2nd, it may not arrive until the 16th?
We are already cutting it pretty close. I've noticed folks in the industry with longer turn around times, for simple things; ie title, estimated huds, hazard insurance, surveys. Items that used to take a few days are now taking several in hot markets.
Don't get caught having to explain to your buyer why they wont get the tax credit because you closed on Dec. 1st. Please contact your lenders and make sure you are on track.
Ask specific questions, has the underwriter approved the loan? Has the appraisal been signed off on?
Can you assure me there are no other conditions needed on this loan? Has it pased QC audits?
Wishing all of you happy closings for October. Wishing you luck and perseverance for November.
Who knows, after all this hoopla, they may extend or create a new tax credit Dec 5th!
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