Local home buyers impacted by government shutdown
Some mid-Missouri homebuyers may have to put their closings on hold due to the government shutdown.
The Department of Agriculture is currently unable to process rural development loans and a local realtor said this is forcing people to wait to close on their home.
“Closings scheduled during the shutdown, they won’t happen, so that will impact all the parties involved,” said Re/Max realtor Jennifer Lincoln.
She said putting a home closing on hold has a trickle-down affect on the home sellers, realtors, inspectors, title companies and movers.
“The seller might be relying on funds from that closing to move to their next house and this would effect the next sell,” she said.
The rural development loans are getting backlogged while the USDA is closed.
Lincoln said the USDA will process the loans in the order they were received once the shutdown ends.
She said the consumer confidence of homebuyers is impacted.
“They don’t know for sure when they’re going to close so they might hold off,” she said. “It would affect everyone involved again.”
