When you (finally!) find the home you want to buy, you want things to move as quickly as possible. But there are a number of delays many buyers face on the road to homeownership—and if you want to close quickly, you need to anticipate and avoid them.
According to the most recent REALTORS® Confidence Survey from the National Association of REALTORS®, the most common problems that delayed contract settlements include:
30% – Issues related to obtaining financing
25% – Appraisal issues
16% – Home inspection/environmental issues
9% – Titling/deed issues
9% – Contract-related contingencies
Now that you know the issues that tend to delay contract closings, you can plan and prepare for them as you’re looking for homes—so when you’re ready to make a purchase, the process will move as quickly as possible.