Contract to Closing Times Increase by 50% or More!

New lending regulations and increases in refinancing are extending the time it takes to close on your new home by 50% or more. The 30 day "Contract to Close" no longer exists unless it is a cash transaction. This is important for both buyers and sellers. If you are selling your home and have not decided on which home you will be purchasing you may find that you have no place to live for several weeks which could lead to additional expense and frustration. Be sure you consult with your lender and your real estate professional before you sign a contract to purchase or sell a home.