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How Do I Avoid Home Closing Delays?

By Thomas E.  Haught

Home closing delays are really irritating. The contract is signed. The sellers and the buyers have chosen a closing date that works good for them. So why has that closing date come and gone? You ask yourself, why aren’t we closing on time?

Unfortunately, the list of things that cause home closing delays is long. Let’s discuss some of the most common ones.

Home Inspection. Most contracts allow the buyer time to have the home inspected. Usually, just five business days. During summer months, when the real estate market is busy, home inspectors are also busy. The buyer may not be able to find an inspector on short notice and may require an extension of the inspection contingency, which can ultimately lead to an extension of the closing date. And when a Seller does agree to have repairs made, the Seller may also have trouble finding qualified contractors to complete the repairs prior to the contract closing date.

Financing. This is perhaps the single most common reason for home closing delays.  But I’m not pointing any fingers at the lenders. Lending is very different than it used to be. Specifically, after the 2008 real estate market meltdown, restrictions and regulations have increased exponentially. While this is for the most part a good thing, in some cases it certainly causes home closing delays. Without the lender being ready, there simply will be no closing.

Home Sale Contingencies. Sometimes, to buy a home, a buyer must first sell their existing home. What if that existing home doesn’t sell? What if it does go under contract for sale, but there are issues with the home inspection and/or financing, like we’ve discussed above? All such factors can delay your closing.

Schedules. Finally, and what a lot of people forget to consider, are schedules. Sure, the seller and the buyer picked a closing date that is good for them, but is it good for their respective attorneys? How about their realtors? How about the title company? How about the lender? There are a lot of moving parts and a lot of players in a real estate transaction. Sometimes closings are delayed for no better reason than that the initial closing date, that was picked weeks and weeks earlier, just doesn’t work for one of the parties anymore. And the last business day of the month, a time when everybody wants to close (for some mysterious reason that continues to elude me), availability of space at title companies is scarce. During these particularly busy times, I have personally done real estate closings in the lobby, and once even in the breakroom of a title company.

The takeaway from all of this? Be patient. Recognize that the seller wants to sell, and the buyer wants to buy. With everybody working to that end, you may experience a home closing delay for a few days, but it will get done!  At Gardi, Haught, Fischer & Bhosale LTD Ltd., our real estate attorneys are experienced in home closings and are here to help both buyers and sellers. Contact us for more information or fill out the form below for a free case evaulation.

Client Testimonials

Jimmy Su

We just had great experience with Tom Haught and his paralegal Courtney Kropf. The communication is clear and fast. All emails were replied within 30 minutes. We will definitely work with Tom Haught again.

Sagar Kanabar

Jeannette Gonzales

Was recommended to them from my company. They did an excellent job and always answered all my questions. Were always upfront with all things and made sure I understood everything that was explained to me.

Ardus

We used the law firm during the sale of our house. We dealt with Mr Haught and Courtney, who made the process very smooth. They were professional, yet very friendly to deal with.I would not hesitate to recommend them to my family and friends.

vanissa colaco

Our immigration experience with Ann Fischer has been amazing! She has been meticulous, organized and worked on our case in a timely manner. Ann and her team went above and beyond to address all of our concerns and provide a personalized support which made a significant difference during our stressful time.I highly recommend her services to anyone seeking legal representation for their immigration matters.

Mike and Keeley Aulert

We have used Tom Haught for two home purchases and one sale over the years and continue to be impressed by his professionalism, responsiveness, and thoroughness. Reasonable pricing too. Highly, highly recommended.

Waseem Chaudhry

Gardi, Haught is one of professional firm, I have been with G&H since last 8 years in all legal matters.RegardsWaseem Chaudhry

Khurram Ghani

Tom and his dedicated crew recently helped me close on a commercial property, and I must say they did an exceptional job! Throughout the entire process, they were incredibly responsive, attentive to detail, and a pleasure to work with. Their professionalism and expertise made the transaction smooth and efficient. I am thoroughly impressed with their performance and definitely plan to work with them again in the near future. I highly recommend Tom and his team for anyone in need of real estate services!

Ryan B

I'd like to thank Gardi, Haught, Fischer, & Bhosale LTD and the whole Team! For amazing service. They made my selling experience fast, easy and at my convenience. I'm very thankful for the whole team over there. Their service meant alot to me and will be using them in the future. 10/10 !

Roberta Murphy

We worked with Tom and Courtney mainly on our recent closing. While it did not go as planned (all the other side’s issues) they did a great job keeping us informed and in track. Highly recommend.

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