For Richer or Poorer

Repairs and TRID

An agent called us very concerned the other day.  She said that after a walk through, she had a last minute repair request and was worried that it would affect her close date. 

There is much misinformation and mistaken commentary around this point.  Any changes other than APR, a prepayment penalty (never happens), or a loan product change (rarely happens) will not require a 3 day review. 

The following circumstances do not require a reissue and a 3 day review of a Closing Disclosure (CD):

• Unexpected discoveries such as a broken fridge or a missing stove, even if they require a seller credit.
• Most changes to payments made at closing including real estate commission, taxes, and utilities proration, and the amount paid into escrow.
• Typos found at the closing table.

Constant communication between the borrower, agents, and lender can help ensure a smooth transaction and mitigate any possible delays. 

 

For Richer or Poorer                                                 What zip code are you married to?

In the Sacramento area, we have 90 zip codes, all of which offer different benefits for living in them.  In this latest article published by the Business Journal, they rank areas by their affluence. The factors measured are earned income, investment income, home equity, among other factors.  This article could be of particular interest to buyers that are relocating to the area and may surprise area residents as to what zip codes have a leg up on others.  To access the article –CLICK HERE.

 

Funny Real Estate Photos

The owner of this site has collected some incredibly funny photos of real estate listings.  Whether it was an agent in a rush or that the owner insisted their listing stand out from the crowd, these photos are memorable (but not in a good way) – CLICK HERE.