More Real Estate Contracts Are Crumbling Before Settlement
The Sunday Real Estate section of The Washington Post included an interesting report by Kenneth R. Harney in his column The Nation's Housing.
A higher percentage of real estate agents are reporting that contracts are being canceled before reaching settlement. The survey provided three primary reasons for contract cancellations:
- Appraisals below the contract amount.
- Ultraconservative underwriting and documentation requirements by the lender.
- Poor service by the staff of the lender.
What is your personal experience during the first quarter of 2012? Are you seeing more contract cancellations or is this more finger pointing by agents that do not have the needed experience?
More realty agents report that their home sales are being canceled or postponed
Spring flowers are blooming. Be sure to have your camera in hand to capture the special moments that you will want to share.
Cherry Blossoms, Kentlands Spring Flowers IMG_6059
Photograph by Roy Kelley using a Canon PowerShot G11 camera.
Roy and Dolores Kelley Photographs
Comments (26)Subscribe to CommentsComment