Oct 1 • TCC Huddle
Funding Tip of the Week!
The federal government has SHUT DOWN!
What this means for real estate and how it impacts investors - lenders will be facing delays in third party services that require governmental support. These are items such as IRS validation, social security administration verifications, FEMA flood insurance guarantees, and more!
While you may not be using institutional lending products to facilitate your own deals, lots of buyers and sellers still are. These delays have the potential to cause a domino-effect that will set off a chain reaction of missed or delayed closings.
If your deal requires a property to sell to a buyer with a mortgage, or you private money lender is opening a HELOC or taking cash-out to fund your deal, make sure their timelines are still intact. It is better to get in front of these issues today so they don't turn into tomorrow's problems.
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Funding Tip of the Week!
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