Choosing A Home That Will Appreciate Over Time Choosing A Home That Will Appreciate Over Time search
Reasons For Delays In Home Closings By The Seller

After choosing a house to buy and hearing that the seller of the house accepted your offer, the process of buying a house will begin. It will typically take several weeks to close on the house you are buying, but it could take even longer than this. If the person selling the house does not do everything he or she needs to, or if there are problems with the title work, there could be a delay in your closing. Here are several common reasons for delays in home closings that are caused by the sellers of the homes.

Seller did not complete all the contingencies

After the seller accepts your offer, there may be things he or she needs to complete in order to close on the house, and these are often listed as contingencies. For example, if you discovered that there was a door that was not functioning properly, the seller may have agreed to fix it. If you find out the seller did not do this, you should not close on the house until it is done. If sellers do not make the necessary repairs, the buyers should wait until the repairs are completely finished before closing.

Seller did not move out in time

If a seller decides not to move out by the date of closing, this too could cause a delay in closing. If you and the seller agreed that you would take possession of the house on closing day, the seller should be out by this date. If the seller is not moved out, you will not be able to close on the loan that day. Instead, there will be a delay in closing until the seller has successfully moved out of the house.

There were title issues

The other thing that may cause a delay is a problem with the title of the house. If, for example, there is a lien on the house that the seller owes, the seller would need to pay for this or fight it before closing. The lien must either be settled before closing, or the seller would have to pay the lien at closing. If the seller is fighting this lien and does not completely resolve the lien issue before closing, there could be a delay in the closing.

If you want to make sure you can close on time, put it in your purchase offer that you must close by a certain date. If you would like to learn more about how to buy or sell real estate, contact a real estate agent today.

About Me

Although many renters are in a hurry to get out of the rental cycle and to move into the joy of home ownership, there are a lot of things to consider before you make the transition. In addition to calculating your monthly spending, it can also be overwhelming to manage a property, which is why working with a real estate agent and having your finger on the pulse of the market is so crucial. I began working hard to choose a home that would appreciate in value, and within a few days, I was able to find a place that I felt great about. I wanted to start a new website that centered around real estate, so here you are.

Search
Categories blog real-estate Archive 2018 2019 Latest Posts 3 Things You Will Need To Sell Your House Fast

If your plan is to move out of the house you are into a house that fits your needs more so, you might need to work …

Custom Home Construction: 3 Benefits You Can Reap

You spend the majority of your time at home, so it should be a comfortable space that reflects your personality and…

3 Benefits Of Commercial Real Estate Over Residential

If you have money to invest, real estate is always a great option as the long-term return on investment often keeps…

2019