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5 Reasons For Closing Delays

Dated: 12/05/2017

Views: 134

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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JD Crockett

JD is a 15 year resident of the MS Gulf Coast. Originally from Bastrop, Louisiana, JD attended college at the University of Louisiana Monroe and Louisiana Tech University, receiving bachelor’s and m....

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