{"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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[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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_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,"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1274","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=1274"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1274\/revisions"}],"predecessor-version":[{"id":89829,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/1274\/revisions\/89829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/1275"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=1274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=1274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=1274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}