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Tuesday, June 9, 2015

What causes closing delays in home sales?

The Most Common Delays Toward Closing on a Home

The most common closing delays in MN

About 60 percent of REALTORS® reporting on their last contract indicated that the contract had some type of issue:

  • financing issues,
  • home inspection issues,
  • appraisal issues, 
  • buying/selling distressed property, 
  • tilting and deed issues, 
  • or with contingencies stated in the contract.
With all the talk about the difficulty in obtaining a mortgage, only 12 percent of contracts that were reported to have settled or terminated had financing issues. One possible explanation noted may be that potential homebuyers are deciding to wait for now, so these buyers were not captured in the data.

Need help with buying or selling a home? Call me!
Sarah Marrinan, Realtor, Keller Williams Premier Realty


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