TRID May Make Our Cash Offers Even More Attractive.

    TRID is here. It takes effect October 3. I have little doubt that these rules will delay closings. There will be mistakes, especially at first, which may delay closings significantly. This may cause many transactions to go past the closing date specified in the purchase agreement. When that happens sellers will be free to accept other offers. A frustrated seller who has waited 45 to 60 days for a closing that didn't happen may be more inclined than usual to accept a cash offer that will not be subject to TRID delays even if that offer is a bit lower than the financed offer they accepted previously. It may pay to make back up offers on houses that are pending in your target area.

     Happy hunting.