Tuesday, June 24, 2008

Section 1 clearances required by banks

We are starting to see lenders asking for termite reports when evaluating loans for purchases. This request has not been part of most transactions for over a decade. Lenders are even starting to require section 1 termite clearances. The lending pendulum has definitely swung hard to the conservative side. When will it swing back? Probably not for a few years. For better or for worse.
Mario Pinedo, CCIM
Intero Real Estate
415-269-6249 cell
408-342-3155 office
Sent via my BlackBerry

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