The good news is that 76% of housing contracts close on time, according to recently released data from the National Association of Realtors®. Of the 24% that were delayed, 20% closed on a later date and only 4% were completely canceled.
Most of the factors requiring a delayed closing were related to obtaining financing (35%), problems with the appraisal (25%), home inspection/environmental issues (16%), and title/deed questions (9%).
Oftentimes, the buyer’s and seller’s agents are able to solve these closing issues by renegotiating who pays for specific items in the closing costs or by adding a home warranty provided by the seller.
IT’S A GOOD LIFE!!
Five Star award Winner 2011-2019 honoring the top 7% of real estate professionals in Oregon.
Rachel Sheller,Principal Broker, Realtor, CRS, ABR, GRI, SRES,MASTERS CIRCLE, Earth Advantage Broker, Diversity Specialist-HOWNW, CSA-Certified Staging Agent, Oregon First, Washington First
Direct 503.380.9634, Email- email@example.com
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