HomeLight

JULY 31, 2020

Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). These are the top home closing delays that could affect if and when you close on your new home, and how to overcome them. Loan approval. is not a simple or finite one.

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Closing Purchase and sale agreement Title search Earnest money deposit 117

HomeLight

NOVEMBER 9, 2021

Keep in mind though, that a home that needs major repairs may slow or derail a sale to traditional buyers who are financing with a mortgage. Most buyers get an inspection, which may initiate repairs or re-negotiations. In fact, the mortgage process is the most common culprit for slowing down the sale.

Purchase and sale agreement 104

Purchase and sale agreement Home sale contingency Title search Inspection 104

Redfin

MARCH 3, 2022

From appraisal issues to home inspection roadblocks, there’s a lot that can go awry before finally closing on your property. For example, a termite inspection could show that there is damage that’ll require major repairs or the appraisal value of the home comes in lower than the price you offered on the home.

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Closing Title search Purchase and sale agreement Title 63

HomeLight

JANUARY 13, 2022

If a contingency isn’t met, then buyers can back out of a deal without any repercussions and they can get their earnest money back. Common contingencies include issues with appraisals, home inspections, or the buyer’s home sale. How is an active contingent listing different from a pending listing?

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Backup offer Inspection contingency Purchase and sale agreement Home sale contingency 97

HomeLight

JULY 29, 2022

When you’re buying a house, the list of what can go wrong at closing includes everything from issues with the mortgage loan and buyer’s credit, insurance snags, appraisal problems, title claims, and events beyond everyone’s control (such as natural disasters, or buyer or seller illness or death).

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Closing Purchase and sale agreement Title Home sale contingency 104

HomeLight

JUNE 30, 2021

There are several different factors that determine home affordability and each lender can have its own mortgage approval standards when it comes to the buyer’s credit score, income, assets, debt, and liabilities. Lenders can also approve you for different loan amounts, give you different interest rates, and charge varying fees.

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Purchase and sale agreement Inspection contingency Home sale contingency Inspection 98