Should I be concerned selling my home to a buyer utilizing the NACA program? I've heard it can take months..?

Wardparkwaykc
Home Seller
Kansas City, MO

Selling my home "FSBO" and I have a potential buyer qualified through NACA for a B of Am. loan. I've read online that NACA loans can take 5 months to close. Anyone have feedback on issues "after" the buyer has been approved?

Answers (2)
Maria Morton
Agent
Kansas City, MO

In KC, the NACA program is working better than it sounds in Chicago. However, B of A is having trouble funding on time lately (many delayed closings). If neither you nor the buyer has an agent to conduct this transaction, you might consider establishing relationships with a loan officer and a title company. They will help you as best they can so that you can get to closing.

Tue Nov 10 2009, 22:30
Stressedbuyer
Home Buyer
Chicago, IL
FIRST ANSWER

Thats not a lie....Just to let you know, we are currently NACA buyers and we have had a contract on a property since January and we aren't able to close yet.
Headache yes yes and yes!! The only reason why we have not backed out is because we have gone through so much and really want the condo. If it were another day in another time, we would have never gone with NACA as buyers. I encourage you to think about your options and be very cautious! If it were me, I sadly say I would probably not enter into a contract with NACA buyers. They are noncommunicative and it is soooooo (insert explitive) stressful for the buyer, seller, attorney, agent and the list could go on. Make sure to make strict deadlines when working with them!

Tue Jun 2 2009, 18:59

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