Free Home Value Report Search For Homes

Expert Tips for Home Buyers & Sellers

Our mission at The Melissa Thompson Team is to be your best resource for real estate advice. Whether you are a buyer, seller, or investor, our team of professionals can answer any questions you might have about real estate. Subscribe to this blog to get the latest news on local market trends and receive expert tips for buying or selling a home.

What Do You Need to Know About TRID?

Today we are talking about TRID. It went into effect back in 2015, but it’s still important today.

Get a FREE Home Value Report

You may have heard the acronym TRID before, but you also may not be totally clear about what it is and how it can affect you. 

If you’re a buyer or under contract, you’ve already heard, but here are the basics. TRID was put into effect in October 2015 to protect buyers. TRID allows buyers to have three days prior to closing to look at all your documents as a buyer.

TRID is in place to help buyers.

As a seller, you have a closing date and a possession date which is however many days after the closing date. The three-day TRID window takes place in that time period. We do the best we can, but we are at the mercy of the lenders most of the time. TRID is a good thing and it helps protect consumers, but things can get awfully hairy if you’re in a rush. 

Make sure your lender gets it out in time because although we will do everything we can to have this not affect your closing, it still can. If you have any questions, don’t hesitate to reach out and give me a call or send me an email. We look forward to hearing from you!