There are many reasons why a home sale might get delayed. I will go over the four most common reasons today.
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Recently, someone asked me, “What are some things that can delay a home sale?” Here are the four most common delays:
1. The buyer is not fully approved for the loan yet. The lender may be having a challenging time verifying income, checking deposits, and things of that nature.
2. There might be title issues and late payments. Maybe the previous owner owes back taxes on the property, or there are child support liens attached to the property. If the title is not free and clear, the home sale process will be delayed.
If the buyer is not approved for the loan yet, you might not close as scheduled.
3. The buyer has some kind of special government funding. Whether the buyer uses a VA loan, an FHA loan, or receives help from the city to purchase the property, there is a lot more red tape involved than there is in the standard home loan.
4. The termite/pest inspection. If the property hasn’t been tented or fumigated or if the woodwork hasn’t been repaired, the home sale process will stall.
These are the most common reasons why a home sale might get delayed, but there are many other factors in a transaction that can cause delays. If you have any other questions about the home sale process or about real estate in general, give me a call or send me an email. I would be happy to help you!
Next, inquire as to whether the home assessor is the proprietor of the organization. Nobody works harder for you than the proprietor of the organization. home inspection
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