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5 Reasons For Closing Delays

Dated: 12/05/2017

Views: 40

DAILY REAL ESTATE NEWS | MONDAY, DECEMBER 04, 2017

Seventy-three percent of home sales closed on time in October, but 25 percent of REALTORS® report a delay in getting to the settlement table, according to the latest REALTORS® Confidence Index, a survey based on responses from more than 3,500 real estate professionals. Only 2 percent say a contract was terminated completely.

What are the main problems encountered with delayed settlements? Real estate pros report the following:

  1. Issues related to obtaining financing: 32%

  2. Appraisal issues: 20%

  3. Home inspection/environmental issues: 16%

  4. Titling/deed issues: 11 percent

  5. Contingencies stated in the contract: 6%

Seventy-four percent of all contracts in October contained contingencies, most often for home inspections, appraisals, or financing.


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Melissa Holder

Melissa knows South MS well since was born and raised on the coast. She attended Ole Miss then graduated from Southern Miss. This young lady has been in advertising/marketing, hospitality and sales si....

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