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What Is The Holdup?

By
Services for Real Estate Pros with Ward County Notary Services 607851

When that closing date, and/or time, is delayed the finger pointing starts and those fingers seem to point just about every direction except at oneself. Surprise! Sometimes it should point at you to. 

You can be anyone involved in the transaction and that includes a whole lot more people then you ever knew were involved in your Real Estate transaction. Here is a partial list:

The Buyer, the Seller, the Appraiser, the Home Inspector,

the Title team ( a whole bunch of people), the Realtor

the Lender (another whole bunch of people), and

if you have a "remote" closing the Signing Company

I'm sure I forgot a few but I know with all certainty everyone above has delayed a closing of mine in my past.

Who was it today (of course that is why I'm writing this post), YOU, the Buyer/borrower. You forgot to follow through with the WIRE.

If you need to bring cash to the closing table be sure to read the directions about how the lender and/or the title company require you to do so.

 

Posted by

Eleanor Thorne
Equity Resources - Cary, NC
Advantage Lending 919-649-5058

What a mess!  We've had attorney's in NC say that this has happened due to out of country (fraudulent) buyers.  So sorry!

Aug 25, 2022 01:13 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

My closing today was only delayed a couple of hours Eleanor Thorne and thank goodness he got it taken care of. Just a case of someone so swamped at the job he didn't get it done on time.

Aug 25, 2022 01:19 PM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great information.  Thanks for sharing and have a wonderful day! bill

Aug 25, 2022 02:17 PM
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

Ho Bob,

We forget how many people are involved in a transaction and any one of them can be the one to hold up the closing by not handling their part! Frustrating. But it happens! LOL!

Aug 25, 2022 04:41 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

You are welcome Bill Salvatore - East Valley thank you for commenting.

Aug 25, 2022 06:24 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

It can be frustrating indeed Dorie Dillard Austin TX  and anyone of the above (or us) can throw things out of whack. Luckily in this case the signers inaction in filling out the wiring information it only delayed the signing for an hour.

Aug 25, 2022 06:37 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Hi Bob- It takes many people to get a home sold and closed. And at any time, one person can have a domino effect on that closing. 

Aug 25, 2022 06:46 PM
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

I have never been too excited about playing the blame game. I’d rather fix the problem and get on to closing 

Aug 25, 2022 10:36 PM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Good morning, Bob... I'm happy to report that I don't see a delayed closing more than once a year, if that. I'm all over my sales. And when there has been a delay there's been a good reason and not one that lends itself to finger pointing. We just can't control everything 100% of the time, much as I'd like to.

Aug 26, 2022 04:31 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

The domino effect is very real when it comes to Real Estate closings Kathy Streib . BTW I can not say I've ever heard of a Stager causing a delay in closing. 😃

Aug 26, 2022 05:27 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Great attitude Paul S. Henderson, REALTOR®, CRS and I am the same way but it has been my experience (here in Minot ND) that we are a rare breed.

Aug 26, 2022 05:28 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

As was I when I was active Nina Hollander, Broker . I was not afraid to call the other agent and ask them if they had taken care of this or that if I thought we may be headed for trouble.

Aug 26, 2022 05:31 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

When people aren't doing the things they are supposed to be doing during a transaction, it will often lead to the closing being delayed.

Aug 26, 2022 09:44 AM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Yes Sir Brian England . Sometimes I'm surprised that it does all come together in the end.

Aug 26, 2022 11:24 AM