{"id":7350,"date":"2017-12-04T00:00:00","date_gmt":"2017-12-04T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/5-most-common-reasons-for-closing-delays\/"},"modified":"2017-12-04T00:00:00","modified_gmt":"2017-12-04T00:00:00","slug":"5-most-common-reasons-for-closing-delays","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/5-most-common-reasons-for-closing-delays\/","title":{"rendered":"5 Most Common Reasons for Closing Delays"},"content":{"rendered":"

\n<\/p>\n

\n <\/p>\n
<\/p>\n

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<\/a> professionals. Only 2 percent say a contract was terminated completely.<\/p>\n

What are the main problems encountered with delayed settlements? Real estate pros report the following:<\/p>\n

    \n
  1. Issues related to obtaining financing<\/a>: 32%<\/li>\n
  2. Appraisal issues: 20%<\/li>\n
  3. Home inspection\/environmental issues: 16%<\/li>\n
  4. Titling\/deed issues: 11 percent<\/li>\n
  5. Contingencies stated in the contract: 6%<\/li>\n<\/ol>\n

    \"\"<\/p>\n

    Seventy-four percent of all contracts in October contained contingencies, most often for home inspections, appraisals, or financing.<\/p>\n

    \"\"<\/p>\n

    Source: \u201cREALTORS\u00ae Confidence Index Survey,\u201d National Association of REALTORS\u00ae (October 2017)<\/em><\/p>\n<\/div>\n<\/div>\n

    Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    Seventy-three percent of home sales closed on time in October, but 25 percent of REALTORS\u00ae report … 5 Most Common Reasons for Closing Delays<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7351,"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":true,"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":[12908,543,215,248,41,818,84,479,10234],"class_list":["post-7350","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-property","tag-real","tag-real-estate","tag-realtor","tag-settlement"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/12\/1217delays.png?fit=1334%2C1044&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":1274,"url":"https:\/\/amazingproperty.com.ng\/blog\/what-threatens-your-closings-the-most\/","url_meta":{"origin":7350,"position":0},"title":"What Threatens Your Closings the Most","author":"Amazing Property","date":"February 24, 2017","format":false,"excerpt":"[ad_1] The majority of contracts settle on time, but more than a quarter of practitioners are citing delays due to common culprits. 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