The 3 things that will kill your real estate deal
Take note for buying and selling in 2016
According to this report in The Washington Post, "in an internal survey of 2,643 realty agents conducted last month but covering sales and purchases during the previous three months, the National Association of Realtors found that 32% — nearly one-third of all transactions — encountered delays of some sort."
Further, here are the three things likely to kill your real estate deal if not done correctly:
1. The buyer can't get the right financing.
46% of real estate transaction problems “were triggered by 'financing issues,' which is up from 40% during the first half of 2015,” writes Kenneth Harney.
2. The appraisal is done all wrong.
16% of the deals "went south because of the appraisal," Harney adds, citing a divergence between the appraisal and agreed-upon pricing.
3. There are issues with the home inspection.
Also, in “6% of deals that turned into total disasters and fell through, home inspection and financing were the primary culprits.”
"If you know the major pitfall areas, maybe you could take steps in advance to avoid them," the author states.