Beginning August 1, 2015 the average days to close on a residential property will increase from 30 to 45 days. The CFPB (Consumer Financial Protection Bureau) wants consumers to have more time to think through this process. Is this going to be a problem for Buyers and Sellers? Only if Lender and Attorney are unprepared to comply with the new regulations.
Loan Officer Eddie Kirby (Guaranty Mortgage), and Real Estate Attorney Edward Hudson, (Hatcher, Stubbs, Land, Hollis, LLP) visited the Waddell Realty office yesterday to review these changes with our agents. If you want to ensure a smooth sale, that closes on time, call these two gentlemen. They are very knowledgeable and well prepared for the upcoming changes.
Below is a link to a copy of the presentation from the Waddell Realty Business Meeting.
Waddell TRID pdf