1,553,599
I'm still deciphering your question? More coffee needed.
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Debe Maxwell, CRS
Charlotte, NC
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Ron and Alexandra Seigel
Carpinteria, CA
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Bob Betel
Sweetwater, TN
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David M. Dwares
Fort Lauderdale, FL
3,071,489
Write the contract carefully. Follow the contract. If the other side breaches issue a "Cure Notice". If they fail to cure, claim the Earnest Money.
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Debe Maxwell, CRS
Charlotte, NC
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Kathleen Daniels, Prob...
San Jose, CA
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Andrew Mooers | 207.53...
Houlton, ME
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Tony and Suzanne Marri...
Scottsdale, AZ
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Anthony Acosta - ALLAT...
Atlanta, GA
5,254,685
I lost a buyer on my personal home 3+ years ago - they paid off a credit card and CANCELLED the card, raising their DTIR enough to disqualify them!
The kicker - she was a CPA and had already had this discussion with her agent AND her lender and insisted that she was right and knew more about this than the advisors that she had hired!
Thankfully, we had a back-up Offer that moved right into place.
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Bob Crane
Stevens Point, WI
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Andrew Mooers | 207.53...
Houlton, ME
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Anthony Acosta - ALLAT...
Atlanta, GA
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Pete Xavier
Pacific Palisades, CA
1,056,663
We might get backed up waiting for a prelim, HOA docs, statements from City Finance or County Development Services. Surveyors, civil engineers, attorneys. There are so many players in our game and just one being out of sync can gum up the works. And if title issues need to be cleared or additional paperwork from one of the parties, it's not that shocking when there are delays that don't have anything to do with the buyer or seller being RWA. Earlier this year, we had a closing where one of the provisions of the contract was the tenant be vacated, and it took an extra week for them to clear out with all their stuff.I think even though we all want to get closings done as quickly as possible, it's common sense to anticipate cause for delay, and carefully calculate those critical dates at the beginning.
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Debe Maxwell, CRS
Charlotte, NC
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Ron and Alexandra Seigel
Carpinteria, CA
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Andrew Mooers | 207.53...
Houlton, ME
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Candice A. Donofrio
Fort Mohave, AZ
6,418,799
It pays to have good agents to navigate through the process.
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Andrew Mooers | 207.53...
Houlton, ME
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Bob Crane
Stevens Point, WI
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Debe Maxwell, CRS
Charlotte, NC
225,526
There are too many things to list as why a sale is delayed. Financing, divorce, short sale or foreclosure, title issues, inspection and appraisal problems, legal issues and emergencies. Having the right lender, who knows his job, and is on top of things, can solve most of these problems quickly
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Andrew Mooers | 207.53...
Houlton, ME
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Bob Crane
Stevens Point, WI
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Debe Maxwell, CRS
Charlotte, NC
3,416,038
I try to avoid them by staying at least 1 step ahead. To make sure the buyers pre qual is real. That if a fha or va loan, the home is going to pass the appraisal. Most things that happen do because of a lack of attention/commincation by the agents. The one variable is a bad inspector or a bad appraiser
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Andrew Mooers | 207.53...
Houlton, ME
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Bob Crane
Stevens Point, WI
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Debe Maxwell, CRS
Charlotte, NC
5,583,328
quite often, delays happen because the agents, buyer and listing agents, were not staying one step ahead of the process.... can't trail....
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
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Richie Alan Naggar
Riverside, CA
2,192,379
I was invoved in a deal in 2017 that drug on for months
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Debe Maxwell, CRS
Charlotte, NC
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Andrew Mooers | 207.53...
Houlton, ME
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Anthony Acosta - ALLAT...
Atlanta, GA
4,272,934
What was that Andrew Mooers | 207.532.6573 ; sorry I was enjoying the view?
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Debe Maxwell, CRS
Charlotte, NC
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Andrew Mooers | 207.53...
Houlton, ME
4,319,773
A few good pointers/answers Andrew Mooers | 207.532.6573.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
3,988,013
Usually if there is a delay, there was a financing issue that wasn't disclosed at the beginning like a property had to sell, time on job not enough, money has to cure, etc. In other words, there was not disclosure.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
3,986,308
Someone dropped the ball early on!
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
4,961,536
It is our job to follow dates and stay on top on the deal.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
1,506,163
It's usually the banks. The bigger they are, the slower they move. Chase is one of the worst. To the point where my sellers are almost not going to consider any offers with them as the lender.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
5,772,587
Delays can occur because of death or force majeure aka acts of God. We have had that happen both with deaths, earthquakes, fires and mud slides. No one is to blame. A
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
1,323,529
The only delays I recall were caused by lenders.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
3,349,554
In 15+ years in the business, the only stalls and delays I've experienced were with lenders approving short sales.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
7,864,157
It is always a good idea to get the buyer pre-approved for the needed mortgage financing.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
2,188,163
Sometimes, in spite of counseling to the contrary, people go out and buy a car or furniture on credit before closing. That is a big NO NO !
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
2,684,669
Offers should be accompanied by a pre-approval or proof of funds letter. The desired lender should be consulted on length of time needed to close.
But having done all of that properly, there might still be a delay where an underwriter requests additional documentation from the borrower.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
4,434,177
Good question.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
2,784,726
Barbara Todaro ...brings it down to earth. The info is there. Flush it out!
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
4,800,132
This is something that should have been looked into prior to the acceptance of the offer.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
5,240,047
The selling agent and listing agent should have verified that the buyer was qualified from the get go. Long gone are the days when buyers applied after having a home under contract.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
902,038
Buyer not being qualified is certainly one of the "vital signs". Sometimes patience is needed.
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Andrew Mooers | 207.53...
Houlton, ME
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Debe Maxwell, CRS
Charlotte, NC
2,221,377
What Tony and Suzanne Marriott, Associate Brokers said.
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Debe Maxwell, CRS
Charlotte, NC
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Anthony Acosta - ALLAT...
Atlanta, GA
1,847,051
4,901,858
Look like you got some good answers.
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Andrew Mooers | 207.53...
Houlton, ME
1,466,257
Andrew Mooers | 207.532.6573 There are many factors that can hold up a closing. Since the buyers were not pre-approved, could be a big red flag.
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Andrew Mooers | 207.53...
Houlton, ME
2,071,025
1,598,452
2,590
As a lender I will say that financing issues seem to be the most stressful ones to introduce into a real estate transaction and that most delays that impact the closing date (or closing at all) rest squarely on our shoulders. I will even push it down further and say that it is the individual loan officer's responsibility to manage the process, expectations, and communication. Regardless of the industry sales people should fufill commitments that are made.
637,484
Cooperative and/or park approval. They work on their own time frame and approvals. Almost lost a really good buyer this month, but we ironed it out and are closing later this week.
5,877,915
Luckily, have not seen too many delays, only once a couple years ago when we took a contingent buyer, and their buyers were approved by Chase Bank. They never talked to anyone, just delayed for 2 days, and stalling 3 domino deals.
5,113,121
I can't remember the last time I had a real estate sale stall... I am very carefuly with who I accept as buyers whether I represent a buyer or a seller.