Home Closing Delay?

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.

Patrick Lim (832) 472-2113

Helping you move today towards a better tomorrow!

Leave a Reply

Your email address will not be published. Required fields are marked *

Connect with Facebook

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>