It has been impossible to avoid the news about the government shutdown. What exactly does that mean for the real estate industry?
Possible delays! Especially if your home is in a flood zone. In certain areas of he state that are near major waterways, the lack of flood insurance could halt closings.
In addition, IRS transcripts may be unavailable. Transcripts are a requirement from underwriting, and while some investors are making a temporary exception to handle the shutdown, that is not a guaranteed.
The good news is that government programs like FHA and USDA should be largely unaffected.