One-Third of Deals Face Closing Delays
You may want to brace your clients: Closing glitches can be fairly common.
The three biggest causes for a closing delay:
- Buyer financing setbacks
- Home inspection issues
- Appraisals that are different from the agreed-upon contracted sales price
That’s according to a survey conducted last month by the National Association of REALTORS® of more than 2,600 real estate professionals who were reflecting on their sales and purchases for the previous three months. The survey found that 32 percent – or nearly one-third – of all real estate transactions encounter some type of delay to closing.
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