A fast and easy path to closing is the dream scenario for buyers and sellers alike. Our REALTORS® can help you avoid oversights that lead to delays when you're looking at Beavercreek homes for sale. Sometimes, though, transaction delays can occur through no fault of your own. A lot happens behind the scenes during the buying process, and wires can get crossed even when you do everything right.

When the unexpected strikes, there are often steps you can take to get things back on track. Other times, you may need to roll with the punches and assess how your plans are affected by an ambiguous situation. Whatever the case, your real estate agent is your strongest ally. Your agent's job is to be there for you every step of the way and advocate for your interests, so you can get the best deal on the home you want.

Let's look closer at some of the most common scenarios that can delay closing day:

1. Title Report Issues
   "Title" refers to the legal trail of ownership of a home over the years, while the "deed" is the physical document that proves ownership. Before any home is sold, a title company must determine that the deed is "clear," with no competing claims or liens, and can be transferred to the new owner. If a problem is found at the last minute, it usually requires specialized title curative services to resolve it promptly.
   
   
2. Mortgage Mishaps
   Even when a buyer is pre-approved for a mortgage, it's crucial to pay attention to the necessary paperwork. The buyer has to provide the mortgage company with many different financial documents before closing day. Now and then, the lender's review of these documents results in a request for even more documentation. More rarely, there can be errors in the financial figures that need to be corrected.
   
   
3. Appraised Property Value
   Before mortgage funding can be finalized, the lender must verify that the property is worth the amount that it will be sold for. If the appraiser comes back with a value that isn't at least equal to the sale price, both buyer and seller are affected. In some cases, necessary repairs may be made to raise the value and a second appraisal ordered. In others, the buyer's financed amount must be revised.
   
   
4. Instrument Survey Woes
   Instrument survey problems arise as a result of land surveys. Even though a home may have sold dozens of times since it was built, a land survey can still uncover problems that alter the property's boundaries. Property lines, walls, or fencing can all result in unexpected dilemmas. Discrepancies must be amended and signed affidavits executed to show that they have been addressed as the law requires.
   
   
5. Home Inspection Red Flags
   A home inspection is a top to bottom review of the home's condition. It encompasses every room and all of the major building systems. Lenders will often raise the alarm if there are serious problems with electrical wiring, septic or sewer, roofing, or the HVAC system. Funding may be pulled if there are significant concerns about the home's safety and repairs can't be made that will make it secure.

Waiting is never easy, and the uncertainty of a delayed closing can be especially stressful. With help from a local real estate expert, you'll be empowered to move fast on your feet and take action. You'll also have the skills on your side to negotiate if the delays have made your original buying agreement look less appealing.

Contact Wright-Patt Realty today to learn more. We look forward to helping you.