da Vinci Realty Blog: Let the Tax Credit nuttiness begin AGAIN

So the First Time Homebuyer Tax Credit scramble for Buyers to go under contract by April 30 was truly exciting and fruitful.  I closed 4 deals in May, see Evergreen Colorado Real Estate, due to the madness.  What I see now is that June is going to be really crazy due to the June 30 close date requirement.  Just one of my colleagues has 27 Short Sales set to close in June.  Banks are going to be scrambling which will undoubtedly cause a cluster f%#^.  Mortgage providers need to realize this and get files fully underwritten well before closing.  I'm so used to lenders waiting until the last minute to look at a file and then buyers are required to jump through hoops to satisfy conditions immediately.  As Larry the Cable Guy puts it so eloquently...."just gettr dun"

Agents will need to keep a tight rein on the financing process during this month or we're bound to see delays that cost our clients up to $8,000 in cash.

Like my title suggests....."let the nuttiness begin!!!!"