You finally have an acceptable offer on your house at the right price and everything is going well. That is something to celebrate. Just keep in mind that the deal isn’t done yet and there is no guarantee that you will close the transaction on time. There are still things that can delay the sale of your home .
Where you a selling real estate, there can be a few speed bumps along the way. Which is not out of the ordinary. A few common hurdles include a failed appraisal or inspection. As well as some unexpected things that can delay the sale of your home.
In this blog post, we will tell you some common mistakes that you may not have thought of. So you can sell your house with very little issues from start to finish. Here are the 6 things that can slow down the sale of your house.
PAST DUE UTILITY BILLS
While you are doing everything you can to complete every task that is involved a real estate transaction, there are some things that you can allow to slip through the cracks and forget about.
The issues that slip through the cracks for many homeowners include utility bills. Water bills seem to be a common utility bill that homeowners forget to pay.
So what does an unpaid water bill have to do with the sale going through?
If you have a unpaid utility bill, the city or utility company can put a lien on your house. Often time these liens can occur just days before the closing date. If you have lien on your house you will not be able to sell your house until it is cleared.
Even a small bill will can be an issue. You will have to wait till the lien holder releases the lien. At this point you are on their time and often times they do not care if they delay the sale of your home.
Utility companies are usually closed on the weekends. So if you are closing on a Thursday or Friday, your might have to wait over the weekend and hope things are taken care of the following Monday. Adding days to your closing.
To stop this from creating a delay in your deal, make sure you stay on top of your bills.
Talk to your title company to see if they can assist you form making this mistake.
It’s never a good thing to find damage to your home. Unexpected damage can occur at any time. Damage from a storm are common. As well as other issues.
Once the inspection process is finished and all requested repairs are completed, you are still required to maintain the house in the same condition. Even if damage happens the morning of the closing, you are still responsible for the house until the house in recorded.
If you are still living in the house, make sure you are still conduction routine maintenance and looking for any potential issues.
If you moved out of the house, go back to check on the house as mush as possible so you can stay on top of things. You can also ask a neighbor or someone closer by who you trust to look in on things.
To avoid paying hefty out-of-pocket repairs, be sure your home insurance policy covers the home right up until closing so you can make a claim for damage repair if necessary.
While it may seem that the house you’re buying smack in the middle of a residential neighborhood will be pretty straightforward, that isn’t always the case.
If you can’t provide documentation showing the property lines, especially when fences, driveways, or even sheds are concerned, then it can delay the sale of your home. This can be an especially common problem in older neighborhoods or in smaller towns where larger sections of land were split into smaller plots, sometimes on a handshake.
Keep your home’s sale from running into boundary issues by getting an official survey done early in your sales process if you can’t find documents. Leaving this item until near the end can certainly delay the sale of your home, potentially costing you the sale altogether.
Buying a home is exciting, and some buyers jump the gun a little by stocking up on new furniture or making other purchases before closing.
Even if they’ve been approved for a mortgage already, buyers’ credit is checked right before closing to ensure the safety of the loan company’s investment. If there’s been a major purchase or late payments have been made, causing a dip in the buyers’ credit score, it can jeopardize their funding.
NOT COMPLETING AND SENDING REQUIRED DOCUMENTS IN A TIMELY MANNER
Time is of the essence when you are selling real estate. So make sure you completing documents as soon as possible. Also make sure you are sending docs back right away. Always make sure who ever you send documents to has received them.
There are a lot of parties involved in a real estate transactions. Which means multiple people will have to look through and verify every document. It is possible for people to get back logged. Especially if other sellers are sending in their paper work first. So sending documents in late can delay the sale of your homeby a week or two.
(Here is a helpful Infographic about the buying and sell process in Reno Nevada that can help illustrate what goes into a real estate deal.)
BAD SELLER’S AGENT
Selling a home can be a stressful time, and you rely on your real estate agent to help make the process as smooth and painless as possible. You also decided to hire a seller’s agent to guide you though the process.
Sometimes your come across bad agents agents or agents who let things slip through the cracks. Always make sure your agent is staying on top of things and is giving your frequent updates
A good seller’s agent will make sure things go a smoothly as possible to you close on time with very little issues.