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17 Home Closing Delays and How You Can Avoid Them

HomeLight

Because the entire sale hinges on securing this loan, it is a top criteria for closing, and it’s also the most common reason for a delay in the closing process. In fact, buyers should go one step further (if they can) and get pre-underwritten for a loan , which offers even more security for both buyers and sellers. Short sale.

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131 Real Estate Terms & Definitions Your Clients Expect You to Know in 2023

The Close

Earnest money deposit. Also known as a “good faith deposit,” it’s the amount of money a buyer puts in escrow to show their commitment to purchase a property. This can lead to a short sale, foreclosure auction, and/or the lender taking possession of the property. Pre-approval. Foreclosure.