This week Dawn addresses the recent approved changes to the Third Party Financing Addendum and what you and your lender need to know before these changes become mandatory March 1st.
Thank you Dawn for the update! You are awesome, thank you for providing these videos!
At 2.26 you say that the lender must provide documentation no later than 30 days before closing. In other places you say it is 3 days before closing (which I assume is accurate). It was very difficult to find information about the form changes - so this video is VERY appreciated!
Sorry that "30" was a mistake. It is 3 days.
Thanks for catching and thanks for watching!
Thanks Dawn, can I share your video with my lenders please?
Great update. Thanks. The noose tightens a little bit.
Thank you Dawn! You are always bringing us valuable information. I like this new three day rule. Just had a great closing in your office on Monday. Easy breezy.
How fortunate all of us as Realtors to have you as the greatest source of information
and Allegiance Title being on top of things. Thank you with blessings.
Thank you for your kind words.
Can the buyer and seller negotiate the 3 days as to get the lender to order the appraisal quicker. Can they both agree to say 10 days before closing?
Yes. The parties can negotiate. But remember if the lender fails to get it done, the buyer could be in default.
Good info. Thanks.
As always, great info-thank you Dawn!
Thank you Dawn!
Excellent information Dawn! Thank you for clarifying the new form.
Good stuff, as always