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Orange County Home Buyer Update - 2 Things You Must Know in Today's Market Posted by Leslie Eskildsen on Thursday, June 17th, 2010 at 11:03am.

One of the most important aspects of being a successful home buyer in today's Orange County Real Estate market is the lender you choose for your home loan.  Check out this advice from Dave Averell from Dave Financial:

Thirty day escrows are the norm in today's market - especially for REOs and Short Sales - which are dominating the Orange County market today.  You are at risk if your lender cannot meet the time frames in your purchase contract.  The California Association of Realtors Residential Purchase Agreement stipulates that the buyer shall remove the loan approval contingency within 17 days after acceptance, and the appraisal contingency removal period is also 17 days.  Failure to remove the loan approval and appraisal contingencies within the contracted time frames gives the seller the right to cancel the agreement - a position you do not want to be in as a home buyer!  Lending guidelines and qualifying criteria are changing constantly.  In addition, mortgage interest rates are at historical lows.  You need a lender you can trust to watch out for your best interests and give you the advice you need to be successful in this challenging real estate market.  Talk to Dave to figure out what the best options are for you.  You need the right team on your side - Dave and I are here to help you be successful in buying a home in any of the great Orange County communities.

 

 

 

 

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