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TOP 10 Hints: What Realtors Need to Know to Avoid TRID Delays August 6, 2015




TOP 10 Hints: What Realtors Need to Know to Avoid TRID Delays

 
New RESPA Forms are effective when buyers apply on or after October 3, 2015

1. Use a "Day 1" mentality of doing things today - not tomorrow, not next week, TODAY.

2. Submit contract addendums and required documents to your Loan Officer as soon as possible.

3. Advise buyers to choose their homeowners agent the first week of the contract instead of waiting to decide.

4. Request  the title order by the end of the first week so you can move everything up in the process termite, title, closing agent information, etc.

5. Pay special attention to Homeowners Associations (HOA) to avoid last minute surprises including knowing if there is an HOA and what/when fees are due.

6. Give your clients realistic expectations especially if repairs are required and/or if they are using a Bond loan - additional days may be required in these situations.

7. Use settlement agents who are timely.

8. Stay in constant communication with all parties to avoid last minute changes.

9. Price changes for new construction should be a minimum of 30 days prior to settlement, if not sooner.

10. Be familiar with your lenders process for issuing the Closing Disclosure (CD)


The Valeo-Croy Team is here for you!  

Deanna Valeo - (704) 488-1421 deanna@deannavaleo.com NMLS 91421

Todd Croy - (704) 488-7763  todd.croy@valeocroyteam.com NMLS 91428

Liscensed in NC, SC and VA



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