{"id":1274,"date":"2017-02-24T00:00:00","date_gmt":"2017-02-24T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/what-threatens-your-closings-the-most\/"},"modified":"2017-02-24T00:00:00","modified_gmt":"2017-02-24T00:00:00","slug":"what-threatens-your-closings-the-most","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/what-threatens-your-closings-the-most\/","title":{"rendered":"What Threatens Your Closings the Most"},"content":{"rendered":"

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The majority of contracts settle on time, but more than a quarter of practitioners are citing delays due to common culprits.<\/p>\n\n

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Read more<\/strong>: Survey: Despite TRID, Closing Hiccups Persist<\/span><\/p>\n<\/blockquote>\n\n

In the latest REALTORS\u00ae Confidence Index report, 29 percent of real estate<\/a> professionals say they faced a delay to settlement and 5 percent reported a contract that was terminated. Sixty-seven percent of practitioners reported their contracts were settled on time.<\/p>\n\n

Among the contracts that had a delay to settlement, 38 percent were due to issues related to obtaining financing<\/a> and 22 percent were from appraisal issues. Survey respondents blamed appraisal-centered delays on the shortage of appraisers, valuations that were not in line with market conditions, and \u201cout-of-town\u201d appraisers who were not familiar with local conditions.<\/p>\n\n

\"\"Other issues that caused delays involved titles, sales contingencies, problems related to distressed sales, home\/hazard or flood insurance<\/a> issues, or a buyer losing a job. <\/strong><\/p>\n\n

Among contracts that were terminated, the most common reasons were related to home inspections, obtaining financing, and appraisal problems.<\/p>\n\n

The median number of days to close a contract was 40 days in January, down slightly from 42 days a year ago in January 2016, NAR reports.<\/p>\n\n

Source: \u201cREALTORS\u00ae Confidence Index: January 2017,\u201d National Association of REALTORS\u00ae (Feb. 22, 2017)<\/em><\/p>\n<\/div>\n \n \n<\/pre>\n\n<\/div>\n\n\n
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Source link <\/a>\n<\/p>\n","protected":false},"excerpt":{"rendered":"

[ad_1] The majority of contracts settle on time, but more than a quarter of practitioners are … What Threatens Your Closings the Most<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":1275,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,1403,12908,543,698,41,818,84,10234,15309],"class_list":["post-1274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-buy","tag-home","tag-home-buying-guide","tag-insurance","tag-property","tag-real","tag-real-estate","tag-settlement","tag-ups"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/2_24_settle.png?fit=397%2C216&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":7350,"url":"https:\/\/amazingproperty.com.ng\/blog\/5-most-common-reasons-for-closing-delays\/","url_meta":{"origin":1274,"position":0},"title":"5 Most Common Reasons for Closing Delays","author":"Amazing Property","date":"December 4, 2017","format":false,"excerpt":"Seventy-three percent of home sales closed on time in October, but 25 percent of REALTORS\u00ae report a delay in getting to the settlement table, according to the latest REALTORS\u00ae Confidence Index, a survey based on responses from more than 3,500 real estate professionals. Only 2 percent say a contract was\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"1217delays.png","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/1217delays.png?fit=1200%2C939&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/1217delays.png?fit=1200%2C939&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/1217delays.png?fit=1200%2C939&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/1217delays.png?fit=1200%2C939&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/1217delays.png?fit=1200%2C939&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":4062,"url":"https:\/\/amazingproperty.com.ng\/blog\/the-biggest-roadblocks-to-closing\/","url_meta":{"origin":1274,"position":1},"title":"The Biggest Roadblocks to Closing","author":"Amazing Property","date":"May 1, 2017","format":false,"excerpt":"Twenty-three percent of real estate professionals say they faced closing delays for a transaction in March, and 7 percent say the sale contract was terminated altogether, according to the REALTORS\u00ae Confidence Index, which is based on responses from more than 2,500 REALTORS\u00ae nationwide. Clients who had trouble obtaining financing was\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Contract%20delays_NAR.png?fit=1197%2C684&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Contract%20delays_NAR.png?fit=1197%2C684&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Contract%20delays_NAR.png?fit=1197%2C684&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Contract%20delays_NAR.png?fit=1197%2C684&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/Contract%20delays_NAR.png?fit=1197%2C684&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":837,"url":"https:\/\/amazingproperty.com.ng\/blog\/survey-despite-trid-closing-hiccups-persist\/","url_meta":{"origin":1274,"position":2},"title":"Survey: Despite TRID, Closing Hiccups Persist","author":"Amazing Property","date":"February 17, 2017","format":false,"excerpt":"[ad_1] More than half of lenders last year gave loan estimates to home buyers that later had to be revised before closing, according to a new survey released by ClosingCorp, a provider of data on closing costs and technology related to residential real estate. 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Last October, we put money down on a condominium apartment that is to be completed around September of this year. 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