Problems we see on closing routes.

What do we see holding up closings?
Inspection issues…e.g., oil tanks..abandoned or still being used. If a home is heated by oil, make sure you have oil tank insurance…or get it. (that will require an inspection to see that it is not leaking). Have the tank installed in the house..is one solution. Switch to gas, could be expensive
Electric panels and wiring….the old Federal Pacific boxes seldom pass inspections …even if all seems OK, the company that made them. Is our of business.
Requirements for FHA loans…..exterior paint, retaining walls, chimney liners,handrails, and other items noted.
Some towns now have Certificate of Occupancy Inspections, with varying requirements. Know what your town requires….and get ready for it.
The financial institution is taking longer …even on non- short sales or foreclosures.
Renters are finally deciding to buy, and not ” waiting” for the market to change…the interest rate is the lowest it has been for years…3 1/4 or so….during my 37 years it has been as high as 17percent!

From the recent DC meeting and the opinions I heard…the market is getting better in terms of increased sales….sellers are also more flexible about price…what they ” need” is different from what they can get….and they are starting to realize that, and
Want to get on with their life.
So, several factors affect closings happening.
Buyers sellers, attorneys ,mortgage workers, title companies,moving companies ,house
Painters, carpet installers ….do you get the picture?


Posted In : From Adriana

  1. Where do you get yourideasS

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