When it comes to closing in real estate, 23 percent of real estate professionals say they face closing delays on a monthly basis, with seven percent of them saying that some contracts even terminated altogether after these closing delays. The expert Orlando closing agents are here to educate you on the three most common bumps that can occur along the buying process.

Financing

Although financing continues to be the top issue for closing a deal, there is a steady decline of these problems arising, mostly due to the improvement in the economic environment, along with better credit histories from borrowers, and improvement in the loan evaluation processes of mortgage originations. Although, these issues may arise in the future, so it’s important to keep in mind that you are using trusted, real estate professionals who know what is best for you or your client.

Appraising
There has been an influx of appraisal issues noted within the real estate markets that lead to a delay or possible termination of a contract that is close to closing. According to a study done in the beginning of 2017, real estate practitioners say this is due to an overall shortage of appraisers, valuations that do not align correctly within the market conditions, and “out-of-town” appraisers who are not familiar with the local market are the reason 21% of closings are stopped in their tracks.

Titling

The third most common delay is due to titling and deed issues. These are responsible for around 15% of closing delays and terminations. You can avoid titling and deed issues by choosing the right people for the job. At Real Estate Closing Solutions, we are dedicated to honesty and integrity. We fully believe that buyers, sellers, Realtors, lenders, and builders deserve reliable real estate resources along with flexibility and certainty in scheduling the time and location for their real estate closings. We believe that ALL stakeholders in the transaction deserve a simple, easily understood pricing structure to better understand all costs when entering into a new real estate transaction.

For more real estate news and insights, continue to follow our blog. If you’ve decided that now is the time for you to purchase a home, contact us today. As the leading Orlando closing agents, we want to help you make informed decisions throughout the home buying process.