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17 Home Closing Delays and How You Can Avoid Them

HomeLight

There’s a house for sale that you want to buy. Out of the delayed contracts, the most common causes were financing issues (37%), followed by appraisal issues (18%) and inspection issues (16%). For most buyers, financing a home through a bank or lender with a mortgage loan is necessary to purchase the property. Easy, right?

Closing 110
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This Checklist and Timeline Is Your GPS for Buying a House

HomeLight

The planning stage (1 to 3 years before purchase). It takes a lot of planning and preparation, possibly even some soul-searching, to decide what’s the right move in your situation. . And buyers also need to have funds available for earnest money, inspection costs, and other upfront fees. Get a home inspection.

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

The Close

This tool, also known as a like-kind exchange, allows investors to defer paying capital gains taxes on a sale. ” If a property is active contingent, a buyer has submitted an offer to purchase a property, but the sale won’t be finalized until certain conditions, or contingencies, are met. Clear title. ” A. .”