The influence on our real estate market brought about by the government’s current shut-down, depends solely on the length of inaction.

In a short period of time contract dates could be missed, causing closings to be delayed. It’s important that you, your lender and your realtor stay ahead of the game by anticipating any delay and extending contract dates whenever possible.

A lengthy government shut-down could result in financing delays and contract cancellations. This is due largely to the unavailability to lenders, of critical records provided by the IRS. FHA buyers may face additional challenges as staffing in HUD offices will be severely limited.

I can’t say this enough. You need to pay close attention to your contract dates. Don’t let them pass without addressing them. You may think “this is out of my hands so one missed date shouldn’t matter”. It’s a contract, it matters. One date missed could cancel the sale.

You’ll also want to double check your rate lock expiration and inquire with your lender about a lock extension, how it works and what it will cost you.

If you have any questions or concerns I’m always here to help. If I don’t know… I’ll find out.