Home Buyer Protection Alert!
Recent Federal legislation can impact your closing date. When completing your Purchase Agreement a conservative timeframe of at least 30-45 days from the time of the contract acceptance would be a realistic expectation.
Listed below is information on two pieces of legislation that stand to impact your closing date.
HVCC was designed to ensure that appraisals are conducted objectively and without pressure from parties with an interest in the transaction.HERA was designed to ensure that the borrower(s) involved in the transaction are given accurate disclosure information (Truth in Lending Statement pertaining to Annual Percentage Rate or APR) regarding the loan they are applying for and adequate time to re-evaluate their decision to proceed in the event of any changes that would impact their costs to finance.