When you find the home you want to buy, you want things to move as quickly as possible. But there are a number of delays many buyers face on the road to homeownership—and if you want to close quickly, you need to anticipate and avoid them.
According to the most recent REALTORS® Confidence Survey from the National Association of REALTORS®, the most common problems that delayed contract settlements include:
30% – Issues related to obtaining financing
25% – Appraisal issues
16% – Home inspection/environmental issues
9% – Titling/deed issues
9% – Contract-related contingencies
The Takeaway:
Now that you know the issues that tend to delay contract closings, you can plan and prepare for them as you’re looking for homes—so when you’re ready to make a purchase, the process will move as quickly as possible.