Tuesday, March 18, 2014

10 Reasons a Real Estate Closing Can Fall Apart

10 Reasons a Real Estate Closing Can Fall Apart

As we assist over 100 families a year in buying or selling real estate, members of the Grove Team see closing delayed more often than we would like.  Why?  These are the top ten reasons:
The buyer or seller encounters a serious life change such as  a job loss, illness, or divorce.
  1. The buyer makes a last-minute major purchase--such as furniture for the new home--and no longer qualifies for a loan.
  2. The appraised value of the property is less than the purchase price. 
  3. The buyer does not deliver information as requested by the lender, and the file cannot move forward in the process.
  4. At the last minute the title company finds a lien on the title, and the seller must clear the lien before the sale.
  5. The lender misinforms the agents and their clients as to the true status of the file, and the closing is delayed while the lender completes their processes.
  6. Unknown defects are discovered in the property.
  7. The agent for the other side goes on vacation and does not leave anyone to handle the file.
  8. The lender's underwriter requires additional documentation.
  9. The lender requires a last minutes re-appraisal.
While the majority of Grove Team transactions close as planned, unforeseen circumstances can happen.  The Grove Team's trained and experienced closing specialists avert many closing delays with their proactive approach to transactions.  For the fewest possible issues at the closing table, contact the Grove Team when buying or selling real estate.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership.
Office (817) 337-0000
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