Once you’ve made an offer on a Southern Maryland house and jumped through all the hoops to move toward closing, there’s nothing you want more than those brand new keys! And while the average time for a home closing is 44 days – and some can be wrapped up within a month – some buyers will experience delays.
It’s frustrating, I know, but there are many reasons why your closing may be taking longer than you’d like. Here are just a few – and some of them are out of your control:
Changes to your credit: Right before closing day, your lender will pull your credit report. Making large purchases – including furniture and appliances for your new home! – and taking on new debt will raise red flags for your lender. Hold off until you’ve settled on the house.
Title issues and liens: If the title search turns up any problems with the title, the seller may need extra time to correct them. Or, if there are liens on the property – unpaid bills like HOA fees, taxes, or contractor bills – your closing could be delayed until those bills are paid.
Death: If one of the homeowners dies, settlement could be delayed as the estate moves through the will or probate process.
More information: If the lender needs more information about part of your application or has trouble verifying something, that process could delay closing.
Realtor.com has a list of many more items at its website. No matter what might be slowing down your closing, know that you can always call me with questions!
La Plata MD Homes for Sale and Real Estate Services in Southern Maryland. You now have a search engine to help you with your Southern Maryland home search! And I’m ready to provide you with a custom home valuation if you’re considering selling your home. Let’s connect to discuss how I can help you. Contact Kimberly Bean at 301-440-1309