...the home buyers were under contract by April 30th.
The extension passed by both the House and the Senate is expected to be signed by the President this week. Since so many home buyers were scrambling to close by the deadline; June 30th; lenders and title attorneys were busy trying to meet the deadline.
Home buyers who now have a contract which was in place by April 30th, 2010 - have until September 30th to close. While most all traditional sales may need a few extra days to close; those buyers working with short sales now have the rest of the summer to work with the banks to get the loans closed.
Contact James Downing of the Downing Real Estate Group, if you are selling, buying or have questions!
Office: 202-362-5800 Cell: 703.244.3971
Licensed in Washington DC, Virginia & Maryland.
Coldwell Banker Residential Brokerage - Chevy Chase
5028 Wisconsin Ave NW Suite 100 * Washington DC 20016