Don't Take Closing Date for Granted
To all home sellers and home buyers,
I know there is one thing you guys have in common, both of you want to have a successful closing on the house that has been under contract for the last 30 - 45 days or maybe even longer. Believe me, that is everybody's goal in the same transaction; the lender, the title company, the contractors who are waiting to get paid after they did the repairs for the house before closing, etc. They are all waiting for that closing day to come anxiously!
However, there are always things happened unexpectedly last minute, and it is beyond our control. Many times, "surprises" show up during title search of the house, lender needs more documents from the buyer, delay from insurance company, buyer's job verification from their Human Resource department...for some reason, they don't like to reply the lender within a timely manner, waiting for a final approval from the underwriter, clear to close instruction...many things can happen last minute and delay the closing.
It is not about who to blame about the delay closing. The fact is there are so many different groups of people involved in the transaction, and many of them are not real estate related. They don't have the urgency like we know and do, they don't "care" what the closing date is, they know they are not the one who need the house closed, why hurry then? I know you are on pins and needles, getting mad and pointing finger at your agent, thinking it has to be the agent's fault that the ball dropped somewhere and the agent didn't catch it.
Many times, the agent is only relating messages from their client/s, the lender or whoever they can get some updates from. Trust me, if there is anything a great agent can do to solve the problem him or herself, they won't bother their client.
Mortgage regulations have changed so much in the recent years, I know many of them are not making sense to you or even to us, real estate agents. We still have to comply with them, work with them as closely as possible to achieve a "smooth" closing. We do want our clients "stress free" and have a pleasant experience indeed. I just hope this may help you to understand a little bit better about some of the reasons that could delay a closing.