So you’re selling or buying a house in 2016 and you want to make sure your real estate transaction goes to closing without glitches. Is there any guide to the potential problems most likely to disrupt deals or delay them?
If you know the major pitfall areas, maybe you could take steps in advance to avoid them.
According to the study, of the 32 percent that experienced delays, 46 percent were triggered by “financing issues,” which is up from 40 percent during the first half of 2015. Appraisal-related problems caused 21 percent of the delays and home-inspection issues in 14 percent. Of the nearly 1 of every 16 (6 percent) of deals that turned into total disasters and fell through, home inspection and financing were the primary culprits. Sixteen percent went south because of the appraisal.
Source: Washington Post
Deal-killer inspectors may not be avoidable by sellers, but one way to be ready for them is to get a pre-listing inspection by a reputable professional before you put the house on the market. That allows you as a seller to fix anything important in advance and at the very least have defenses against inspection findings that might be at least partly aimed at lowering the price to the buyers’ advantage.
