If you’re purchasing a home in North Carolina, you’ve probably searched for the perfect property to fit your requirements. Becoming familiar with common problems that can delay the real estate closing process can be helpful. Doing so should safeguard you from experiencing any significant surprises that would disqualify you from completing the transaction.
After finding a home and making an offer on the property that the seller accepts, the next step is to sign a legal agreement, which closes the deal and transfers the property from the seller to you. Getting a real estate closing completed requires communication between your agent, lender, appraiser and title agency. Ensuring there aren’t any problems with the property or financing is critical before a real estate closing can occur.
Closing a real estate transaction will generally take a few weeks to complete as long as there aren’t any delays. If issues do occur, they can slow down the process and must be fixed before the transaction can be finalized. Common problems to watch for can include the following:
Being aware of common problems with a real estate transaction can help you speed up the process and avoid delays that would hinder the final real estate closing.