How Will TRID Affect Buyers and Sellers in the San Diego?

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The CFPB implemented TRID, or the TILA-RESPA Integrated Disclosure, on October 3rd. TRID extends the period of time the buyer has to read the closing documents during a real estate transaction.

Agents will be required to write out a contract for at least 45 days. In total, there is a six-day period for the transaction to be completed. The seller has two days to send the documents over to the buyer, the buyer has three days to review, and then the last day is reserved for closing.

Your closing disclosure will change. The HUD settlement statement will still be present, but it will look different than before. The breakdown is going to be more finite, so it may cause some confusion when these changes are first implemented. We recommend that agents call the title company if you have any questions, rather than trying to answer them yourself.

The biggest thing that the buyer needs to be aware of is that transactions will take longer to close. They will be given more information that they need to look at before they can close the transaction, so it will take a little longer. The good news is the extended time frame gives you more time to ask questions and understand exactly what is going on.

If you have any questions about this major development, please don't hesitate to contact us. If you need to get out of your home quickly, some of our lenders do have loan programs available that aren't subject to TRID regulations.

We look forward to speaking with you!

Why work with Max Folkers?

There are a lot of great Realtors here in San Diego, but we think we are the perfect choice for your real estate needs. Over the last 10 years, I have had the opportunity to apply the integrity, attention to detail, and work ethic that served me well as a Navy pilot, to helping hundreds of families buy or sell a home of their own in San Diego.

My team and I pride ourselves on using cutting edge technology combined with the latest and greatest marketing information to give you, our clients, access to the most up-to-date information out there. I love what I do, and I love helping families achieve their goals with the greatest asset in their lives, their homes.

Max Folkers Real Estate Team
RE/MAX Pacific
CA BRE # 01466910
619-977-8364
team@maxfolkers.com

2 locations to better serve your San Diego needs:
4112 Napier St.
San Diego, CA 92110

1545 Hotel Circle South, Ste 145
San Diego, CA 92108

Max Folkers Testimonials

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Gary - "I was going to co-own a property but I was a little nervous about making the down payment because that was much more than I had in fluid cash. I told Max that I had a condo in North Park and he told me that it would sell in 10 days and he sold it in a weekend. It was just his knowledge of the market and patience that helped everything go along. He steered us in the right direction and looked out for our interests even though we didn’t realized that’s what he was doing."

Loydene - "My original plan was to list my house in April, sell it in June, and move in July. What actually happened was that we sold it immediately and had to move sooner than expected, which was a good thing! Before Max even listed it, he had gone out and scouted some people that he thought might be interested in buying it. I’ve sold several houses in my life and this transaction definitely went the smoothest. I truly felt I could call him at all hours and he was very responsive to me."

What our happy San Diego clients have to say

"Max is a top-notch agent. You cannot go wrong working with him to sell or buy a home. He has an outstanding marketing campaign that works to sell homes quickly, and has very good negotiating skills that deliver. The best quality about Max is that he truly cares about his clients. He's easy to work with and other agents really enjoy working with him, too. Max makes the escow process smooth. I would definitely recommend Max to my family and friends."

"Before choosing Max as my listing agent, I interviewed several agents. Max was prompt to the initial interview, honest, not pushy, and seemed relaxed and willing to provide his knowledge about the current real esate market. After choosing Max as my listing agent, he was quick to have a person over at my place to help stage my home, had a professional photographer take great pictures, and had my home on the MLS expeditiously. During the offer process, Max offered his advice but always let me make the final decision without making me feel awkward. He is tech savvy and I was able to complete most of the transaction electronically. He has a full-time assistant who is prompt and willing to help when need be. The escrow process was very smooth and Max kept in close communication throughout the entire process. At the end, Max was able to take my property from initial listing to complete sale within two months! Thanks Max for helping make the sale of my home a smooth process!"

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How Will TRID Affect Buyers and Sellers in the San Diego?