Crystal Clear Real Estate Transaction

Just a reminder that new contracts came out at the beginning of April, 2017. The financing paragraph 8 was changed in major ways. The time frame for loan approval was shortened. Also, time frame and process for letting the parties know if the loan is not going to go through. PLEASE READ THAT PARAGRAPH CAREFULLY!!!!

The contract deadlines/dates are very important. When you have a financed contract, and you move the closing up, all the lender deadlines have to be shortened but they have to still meet the TRID requirements. This is especially important for the 4 days for the buyer to receive the closing disclosure before closing can be completed. Lender has to confirm they can meet the new deadlines before you sign off on the new closing date.

On page 11 of the contract, there is a list of all the comprehensive riders. They each have a letter. Please make sure you use the riders for the contract you have written. FARBAR and FAR are lettered differently and the days are counted differently

Hi- Just a reminder that new contracts are coming out as of April 4, 2017. Many changes, especially the financing paragraph- Loan Approval time and constitution of a loan approval. Please make sure you use the correct version next week.