If You Are Buying A Home Avoid These Common Contract Delays – What's Up Clarksville

If You Are Buying A Home Avoid These Common Contract Delays

Once you find the home of your dreams, you are ready for the next step, the contract! You want a nice and smooth transaction but sometimes, delays are inevitable. How can you prepare or even avoid some of these delays?! First, know the common delays that you may encounter.

The most common delays according to the recent REALTORS Confidence Survey from NAR, are as follows:

  • 30% related to financing
  • 25% related to appraisals
  • 16% related to home inspections
  • 9% related to titling and deeds
  • 9% related to contract contingencies

Now that you know the areas that can cause delays, you can prepare yourself and do what you can to avoid delays (when possible). First, get yourself a reputable lender and get yourself prequalified and make sure to follow your lender’s instructions carefully.

Second, make sure you have a Realtor who is able to handle things that arise. Make sure you feel comfortable with your Realtors abilities. Your Realtor will be there for you throughout the transaction, and if the road gets bumpy, he/she will be able to help you through it.

Remember, not all delays can be avoided. In those situations look toward your Realtor, Lender, Title Company etc. for guidance. They will help you through those moments.