Tom Kelly The Real Estate Adviser

July 30, 2009

The Real Estate Adviser: Why deals take longer to close these days

It's no secret that many facets of lending and real estate have changed as a result of the credit crisis. In addition to tightened lending practices that resulted from rising mortgage delinquencies, the nation's capital has been heavily involved in altering the way lenders do business today.

Two individual pieces of legislation impacting business need to be taken into account when determining closing dates for purchase transactions.

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Previous columns:

• Avoiding pitfalls when renting vacation homes, 07-23-2009
• The Real Estate Adviser: Tips on cabin rentals to your friends, family, 07-16-2009
• The Real Estate Adviser: Real estate becoming a global marketplace, 07-09-2009
• The Real Estate Adviser: Tips on renting out your family's cabin, 07-02-2009
• The Real Estate Adviser: Is it time for your parents to move?, 06-25-2009
• The Real Estate Adviser: Puget Sound tops list of 'best places to have fun', 06-18-2009
• The Real Estate Adviser: First-time buyers: Know your options, 06-11-2009
• The Real Estate Adviser: $8,000 tax credit can go for down payment, 06-04-2009