Tuesday, July 6, 2010

Q: Can I expect a smooth and fast close of escrow in the current market?

THE SHORT ANSWER IS PROBABLY NOT.

Caution is the current name of the game. Buyers don’t want “as-is” and demand a lot from the seller in terms of repair work and extras. Buyers’ loans take longer and can be harder to process due to much stricter underwriting procedures.
A seller should not expect a timely sale and close of escrow. Delays are par for the course.

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