Profile picture for zuser20140122140804749

usda loans

We are on the other side of this usda stuff, we are the sellers,  how does this process work, why is it taking so long, we had appraisal and inspection,  same day, same person,  we need to buy a house to live in, our closing is set for july 23, 2014,  cant move forward with anything,  our realtor is not being very nice about answering our questions, I feel we have no where to turn, please  give us some advice, thanks,  this is in w.v.
  • June 20 2014 - US
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Answers (1)

Profile picture for sunnyview
I posted this on your other thread, but you may not see it so here the rerun..

USDA loans close usually within about 45 days and rarely in more than 60 days, but your area may be different. However, many USDA buyers have minimal cash to close. Your agent is not doing the right thing but not discussing the process with you. I would let them know that you expect better support from them.

Many sellers hang on to under qualified USDA buyers who are hoping for the best. Some delays may be red tape, but often it is buyers trying to squeak into a house. Since the appraisal is done and the inspection is in order, you shouldn't be more than 30-40 days from close now, but ask the escrow company for their best guess.

If your buyers do not perform within the contract timelines, consider cutting your losses and putting the house back on the market before fall. Do not hang your hopes on a low down buyer since if rates edge up they may be dead in the water.
  • June 20 2014
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