“Clear to close!”
That is definitely one of my favorite phrases of all time. But getting to that point can sometimes be challenging.
According to the REALTORS® Confidence Index, which is based on responses from more than 2,500 Realtors nationwide, 23 percent of real estate professionals say they faced closing delays for a transaction in March, and 7 percent say the sale contract was terminated altogether.
Respondents to the survey say the two main reasons were clients having trouble obtaining financing, followed by appraisal issues.
How can you avoid these top two major roadblocks to closing?
Get Pre-Approved Before Looking for a Home*
The best way to ensure your funding will be ready when it comes time to close on a home is to work with me in advance. We’ll review all your finances, get your pre-approval letter prepared, and arm you with the knowledge you need to know exactly how much you can afford, how much you will need to put down and what will be due at closing.
Work With Licensed Professionals
Getting your finances in line isn’t the only important step in the closing process. You will need a professional Realtor by your side to guide your house hunting, making a strong offer, getting appraisals and negotiating any work that needs to be done before closing.
Real estate practitioners say a shortage of appraisers, valuations that are not in line with market conditions, and “out-of-town” appraisers who are not familiar with the local market are the biggest problems they face concerning appraisals. Having an experienced agent as your advocate can help with some of these other roadblocks.
While not every process goes perfectly smooth, with Skyline Home Loans you can count on us to work our hardest to secure your loan and help you avoid obstacles along the way. Call me today to learn more and let’s get you clear to close!
Source: REALTORS® Confidence Index and National Mortgage News
*Pre-approval is only offered on home purchase loans where a sales contract is not yet signed. It is not a rate lock, loan approval, or commitment to lend. You must submit additional information for review and approval.