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3 Reasons Home Closings Can Be Delayed in the Triangle

Buying a home is a major milestone for Triangle residents. However, the lengthy process of viewing listed properties, making offers, and utilizing due diligence periods is usually worth the time and effort, especially when the closing date is in sight.

There are times when the process does not go as planned and home buyers in the Raleigh, and the rest of the Triangle find stumbling blocks as they head to closing. Our expert real estate agents at Flat Fee Realty have seen last-minute surprises that that can hamper the process, but the collective expertise and guidance of each agent has worked through the setbacks.

Flat Fee Realty offers three common problems that home buyers may encounter during the closing process and how to manage them:  

  • Home appraisal issues: Transactions for buyers and sellers always include a bank appraisal of the property –they’re imperative for buyers acquiring a mortgage. The bank’s appraisal may differ from the seller’s original listing price, often due to repairs the bank requires before the loan process. The closing may be delayed if this issue arises, and having the guidance of an experience Flat Fee Realty agent can prevent this from being a surprise at the last minute.
  • Title problems: Knowledgeable and practiced agents are an asset for buyers in this regard. We are able to ensure that the buyers are acquiring a clean title and that it will not impact future financing or sales of the property; we research the title to ensure the buyers are not buying a property with liens against it.
  • Additional documentation: Mortgage lenders are scrupulous in their reviews of buyer funds. A simple pre-approval may cause buyers to assume everything is fine, and they could be, but there are numerous documents that are required to finalize the lending process. Often, lenders will look more deeply into credit and bank statements even days before closing. The request for additional documents, such as explanations for recent deposits, may delay the process. Our Flat Fee agents can help ensure buyers are prepared with all documentation that will be needed to avoid confusion and miscommunication.  

Buying a home needs to be a joyous occasion for Triangle buyers, even if it can be somewhat of a headache. There’s no need to worry about any of the hurdles of buying and closing on a home with a friendly and trustworthy agent from Flat Fee Realty assisting with the process. For the best service in Triangle real estate, contact us today!

This post on selling and buying a home in North Carolina is brought to you by the team at Flat Fee Realty LLC and is intended for informational purposes only.

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