If you haven't heard about RESPA, the Real Estate Settlement Act, and if you are a buyer or seller of real estate, here is what I believe is most important for you to understand: YOU CAN NOT CONTROL THE EFFECTS OF RESPA!
What do I mean? For most people the only thing they will learn about RESPA is that because of it, certain things happening will mean that the closing date will become a moving target. Is this difficult? Sometimes. Will it kill transactions? Not most. Will it be aggravating to everyone involved? Absolutely.
There is no real reason for most people to even try to understand the different disclosures and their variables or which "bucket" is which. What everyone involved in a transaction needs to understand is RESPA may rear it's ugly head and if it does, the closing date will change a few days. End of story in my opinion.
The intent of RESPA is to protect buyers and to help them make informed decisions in real estate transactions. We could argue all day whether or not RESPA will actually meet this goal, but that also does not matter. It is here, get used to it.
As a Realtor, all I want people to understand is that in any given transaction, the closing date is not a hard and fast date as before and it is to help insure an informed buyer. If something comes up that is applicable, the closing date will move a few days.
Recognize RESPA for what it is. It is one of the new facts of life, relax, embrace it, and everything will be okay.
Looking for a Tallahassee Realtor? Are you searching for a seasoned real estate professional that knows homes in Tallahassee and the real estate market and can get the results you desire? Are you in the market to buy or sell a home in the Tallahassee, Florida area? Let me put my knowledge and experience to work for you.
My goal is to help people find the best home for the best price with the most protection and least amount of stress possible. If this sounds like what you want, please allow me the opportunity to earn the right to serve your real estate needs. Call me, Michael Lee today at (850) 339-9346.
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