A closing agreement could fail if the buyer and seller cannot agree on who is dealing with the issues that arose during an inspection. Some sellers may want to sell the house as it is to speed up the sale, but buyers may not want to be in trouble because of big problems. Now that we've made that distinction, let's look at some of the most common issues that delay the shutdown. From how much to save for a down payment to how long home inspections take, find what you need to know in our 101 series on buying a home.
Orchard's home value estimates are 30% more accurate than those of our competitors. Nothing is more disappointing than thinking that the sale of your home is done, only for it to fall apart in the final stages of the process. A closure can fail for many reasons, including title insurance surprises, buyer funding refusals, inspection failures, and minor appraisals. Even a buyer's remorse can ruin a deal.
If the buyer's mortgage fails on the closing day or at any point in the sale process, and you want to sell your home quickly, you can sell it to a buyer who doesn't have to worry about financing. With a home sale contingency, the buyer must sell their home first before they can close their new home.