Here are common problems that can delay or prevent closing, many of which, should have been addressed prior to submission to an underwriter, but sometimes the ball gets dropped:
- Low appraisal or the underwriter orders a review appraisal that does not match the first appraisal.
- Additional debt found on the buyer’s updated credit report.
- Mistakes noted in the buyer’s credit report.
- New liens or judgments filed against the buyer or seller upon title update.
- Clouds on title.
- Marital status change for buyer or seller.
- Required updated bank statements or financial documents.
- Insurance information missing.
- Expired loan or program commitment.
As you can see, it’s very important for ALL parties to stay in constant contact to ward off as many issues as possible.
When placing your home on the market your Number 1 goal is to make your home warm and comfortable. Not having a huge display of photographs is a prime example of less is better. Here are a few pros and cons of why only leaving a few photo’s on display is recommended.
- It helps to add warmth to a family room
- Establishes a bonding feeling with the buyer
- Many family frames are decorative and add a quality touch to the interior
- If there are too many photo’s within the house the buyer may not be able to visualize themselves in the home
- Too many photos allow for distractions by the buyer and does not allow the house to be seen
- Although you think you have a beautiful family, the viewing public may not agree and this could be held against the house
In a real sale transaction – if spouse is also in title (or lived at property), we would require spouse sign the Warranty Deed. If spouse did not want any proceeds from sale, spouse would sign an in-house “proceeds form” directing us as to how proceeds are to be split. If spouse is not in title & never lived at the property, spouse could sign a “Non-Homestead Affidavit” & proceeds form.
In a non-real estate transaction and spouse simply wants to be taken off title – they would need to contact a real estate attorney, as he would need to review the situation and advise them as to what can be done (property with lien may be handled differently than property without lien).
In a divorce situation - the divorce decree should hash out everything properly (the divorce decree will divest the individual not getting the property of any right, title, etc in the property). Most of the time, attorney will have that individual deed out, but also sometimes a deed is not done & a certified copy of the decree filed in real property records at time of a sale. The decree could probably also address your question regarding assets in both names… your client’s best bet is to contact her divorce attorney for answers to these questions.
Step back and take an objective look at the exterior of the home:
- Do your trees and landscaping need to be trimmed for a better view of the home?
- Does your driveway or sidewalks need to be swept or power washed?
- Is your lawn green and well manicured?
- Does your paint need a fresh coat?
- Is there any rotted wood to be replaced?
You Deserve the Best!! I am just a phone call away.