Do you know the common reasons for home sales not closing on time?
The Lawhead Team would like to share the C.A.R.’s latest One Cool Thing about delayed settlements on home sales.
While the majority of home sales close on time, there are some that are delayed or cancelled altogheter. Here are the 5 most-common reasons for a delayed settlement.
- 32% – Issues related to obtaining financing
- 20% – Appraisal issues
- 16% – Home inspection/environmental issues
- 11% – Titling/deed issues
- 6% – Contingencies stated in the contract
Source: NATIONAL ASSOCIATION OF REALTORS REALTORS Confidence Index