5 snags that can derail a ‘done deal’ in real estate

  • Inspections, appraisals, title issues and financing can delay or put a stop to closing.

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

The deal is signed and sealed, but it may not be real. A lot can happen from contract to closing, and until all is funded and keys are exchanged, getting to the finish line isn't a sure thing. Here are five reasons why a home sale may not make it: 1. Inspections This is one of the most dreaded parts of the transaction, as all parties involved are dealing with someone playing house detective and investigating the unknown. Inspections typically reveal surprise, shock, disbelief or some combination thereof. A house that appeared to be in good condition has a host of issues that need to be repaired, or the inspector’s interpretation of some items has scared the buyers and sent them running for the hills. No matter how hard the agents or the seller try to run interference and provide assurance and willingness to address the issues, the deal gets derailed. 2. Appraisal This is another hold-your-breath moment for buyers, sellers, the agents and the lender. Will it or ...