Situations That Can Hold Up a Real Estate Transaction

Situations That Can Hold Up a Real Estate Transaction

Buying and selling real estate can feel like one of the most complicated things in the entire universe. Which is why so many homeowners and soon-to-be-homeowners all seek out the help of real estate agents and realtors to help them manage their buying and selling transactions. There are a lot of potential potholes on the way to a successful real estate transaction, each with its own set of difficulties and challenges left to overcome to get to a completed transaction. Here are three situations that can hold up a real estate transaction and how you can navigate them.

Situations That Can Hold Up a Real Estate Transaction: Financing Issues

The most common situation that can hold up a real estate transaction is a financing issue on the side of the buyer. If your buyer is not pre-approved for a home loan, then once you have accepted the offer, a bank needs to approve the loan your buyers need to purchase it. If they are not approved for the size loan they are expecting, then your buyers may have to back out or work with you on a new price. The best way around this is to only accept offers from buyers who are preapproved for a home loan.

Issues With the Property

Another incredibly common situation that can hold up a real estate transaction is the discovery of issues with the property. Major issues found during an inspection can delay the process of buying a home. After your offer on a house has been accepted, you are entitled to have an inspection of the home done to ensure that it is structurally sound and safe. Sometimes these inspections turn up major issues that need fixing, that can potentially cost many tens of thousands of dollars. This can send both parties back to the negotiating table to start the process over again.

Situations That Can Hold Up a Real Estate Transaction: Bad Appraisal

The final issue that can hold up a real estate transaction is a bad appraisal from an appraiser. If the appraiser assigned to your home is not familiar with the market, they can end up giving you an appraisal significantly lower than the real value of your home. This in turn can give your buyers cold feet and they will back out. Make sure that you are giving your appraiser all the information they need to make an educated valuation of your home. And if you do get a lowball appraisal, it would be wise to seek another appraisal.

Nothing is more frustrating than hold ups at the final moments of a real estate transaction. Unfortunately, these kinds of hold ups are more common than you might think. Be aware of these three situations that can hold up a real estate transaction and know how to get around them to complete your transaction.

Check out this article on the main risks of real estate investment

 Steelbridge Realty LLC  is a Licensed Real Estate Brokerage that utilizes cutting-edge marketing techniques and data-driven Real Estate solutions in today’s ever-changing environment. Our group of professionals have decades of experience and have navigated through many business cycles. Our diverse background gives us the tools to guide people towards successful decisions.

 



 

$5,600,000
Single Family Home For Sale
Pending
5
BEDS
6
TOTAL BATHS
7,000
SQFT
3336 West Riverside Dr
Fort Myers, FL 33901
Riverside Subdivision
New Listing - a week online
$1,795,000
Land For Sale
Active
0.4175
ACRES
LEE
COUNTY
3508 Stuart Ct
Fort Myers, FL 33901
York Manor Subdivision
$5,800,000
Land For Sale
Active
1.3945
ACRES
LEE
COUNTY
1215 & 1233 Braman Ave
Fort Myers, FL 33901
Fort Myers Subdivision
$15,950,000
Single Family Home For Sale
Active
4
BEDS
9
TOTAL BATHS
10,033
SQFT
1240 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 2 weeks online
$890,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
3,467
SQFT
1249 Osceola Dr
Fort Myers, FL 33901
Riverside Subdivision
$750,000
Single Family Home For Sale
Pending With Contingencies
4
BEDS
2
TOTAL BATHS
2,173
SQFT
1250 Braman Ave
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$2,450,000
Single Family Home For Sale
Pending With Contingencies
3
BEDS
4
TOTAL BATHS
3,138
SQFT
1209 Coconut Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 2 weeks online
$1,595,000
Single Family Home For Sale
Active
4
BEDS
5
TOTAL BATHS
3,848
SQFT
1266 Gasparilla Dr
Fort Myers, FL 33901
York Manor Subdivision
Price Change - 16 hours ago
$620,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,503
SQFT
1362 Braman Avenue
Fort Myers, FL 33901
Becklers Riverside Add Subdivision
$1,995,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,684
SQFT
3232 Mcgregor Blvd
Fort Myers, FL 33901
Riverside Subdivision
New Listing - 3 days online
$1,377,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
3,589
SQFT
1344 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
$475,000
Single Family Home For Sale
Pending
4
BEDS
2
TOTAL BATHS
2,542
SQFT
1377 Coconut Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
Price Change - 3 days ago
$650,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
1,950
SQFT
1250 Sunbury Dr
Fort Myers, FL 33901
La Chelle Manor Subdivision
$6,000,000
Single Family Home For Sale
Active
5
BEDS
5
TOTAL BATHS
7,719
SQFT
2844 Valencia Way
Fort Myers, FL 33901
Lynns Add Subdivision
New Listing - 5 hours online
$989,000
Single Family Home For Sale
Active
3
BEDS
3
TOTAL BATHS
2,829
SQFT
1388 Shadow Ln
Fort Myers, FL 33901
Country Club Estates Subdivision
Price Change - 2 weeks ago
$499,000
Single Family Home For Sale
Active
3
BEDS
4
TOTAL BATHS
1,784
SQFT
1414 Alhambra Dr
Fort Myers, FL 33901
Fort Myers Subdivision
New Listing - 3 weeks online
$5,900,000
Single Family Home For Sale
Active
5
BEDS
6
TOTAL BATHS
5,093
SQFT
3914 W Riverside Dr
Fort Myers, FL 33901
Fort Myers Subdivision
Price Change - 4 days ago
$1,385,000
Single Family Home For Sale
Active
4
BEDS
4
TOTAL BATHS
4,848
SQFT
1434 Alhambra Dr
Fort Myers, FL 33901
Palm Gardens Subdivision
New Listing - 4 weeks online
$3,500,000
Single Family Home For Sale
Pending With Contingencies
5
BEDS
6
TOTAL BATHS
3,470
SQFT
3954 W Riverside Dr
Fort Myers, FL 33901
Seminole Estates Subdivision

 

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