Picturing yourself walking away from the closing table with cash in hand? Sellers who list their homes have no guarantee of their home selling. Unfortunately, once you’ve found a buyer and agreed on a purchase price, there is still no guarantee of smooth sailing to the closing table. There are a variety of reasons closings can be delayed. By being forewarned, you can be forearmed for these 6 things that can delay your home sale in Fort Myers.
Inspection
When preparing to sell your home in Fort Myers, one of the crucial steps is ensuring it passes inspection smoothly. Unexpected issues discovered during this process can potentially delay the closing, affecting your timeline and financial plans. That’s why opting to hire your own home inspector can be a strategic decision. By proactively identifying any hidden problems before listing your home, you gain the opportunity to address them on your terms. Whether it’s repairing issues to enhance the property’s appeal or preparing financially for potential negotiations, having a clear understanding of your home’s condition empowers you to make informed decisions.
Moreover, being aware of any issues upfront allows you to present your home transparently to potential buyers. It demonstrates integrity and a commitment to a fair transaction, which can positively influence negotiations. Understanding the potential impact of identified issues on the buyer’s perception of the home’s value enables you to navigate discussions with confidence. You can either rectify the issues to maintain the asking price or adjust your expectations based on the buyer’s concerns, thereby facilitating smoother negotiations and a quicker closing process.
In essence, investing in a pre-listing inspection not only mitigates the risk of surprises later in the selling process but also positions you as a proactive and trustworthy seller. This proactive approach can ultimately lead to a more efficient sale, minimizing delays and maximizing the likelihood of achieving your desired outcome.
Appraisal
Appraisers let the lender know that the amount they loan on the mortgage note is secured by the real property, a low appraisal can cause a denial of the loan. Should the appraisal come back with repairs required before the closing can take place, this is another thing that can cause a delay in your home sale in Fort Myers.
Credit
While your buyers may have been preapproved for the loan by their lender, sadly circumstances can change after the process of approving the mortgage actually begins. This can delay your home sale in Fort Myers. Buyers may have a change on their credit report which suddenly makes their qualifying status change as well. One issue may be that they have increased their debt to income ratio, by taking on more credit.
Title
In Fort Myers, like in many real estate markets, a smooth title search process is crucial for a timely home sale. Issues that arise during this phase can significantly delay the transaction. One common problem encountered is difficulties in establishing a clear title. This can occur due to outstanding liens placed by contractors or unpaid creditors against the property. Such liens must be resolved before the property can be transferred to a new owner, often necessitating negotiations and settlements that can extend the sale timeline.
Errors in public records also pose a challenge during title searches. These mistakes might range from clerical errors to outdated or incorrect information, all of which must be rectified through legal procedures. Additionally, the discovery of missing heirs can complicate matters, potentially leading to legal disputes if these heirs surface after the property is sold. Furthermore, the unfortunate occurrence of forgeries in historical property transfers can cast doubt on the ownership history, creating a tangled web that requires meticulous unraveling.
During the survey process, discrepancies in property lines as depicted by different surveys can emerge as another hurdle. These disparities might arise due to outdated surveys or conflicting interpretations of boundary markers. Addressing such issues preemptively, before listing the property for sale, is advisable. It not only helps in avoiding delays but also ensures a smoother transaction process for all parties involved, safeguarding against potential legal and financial complications down the line. By proactively addressing any title and survey concerns, sellers in Fort Myers can enhance the attractiveness of their property to potential buyers and expedite the sale process effectively.
Open Permits
Open building permits on your property, even if the work was finished long ago, can delay your home sale in Fort Myers. You can simply walk into your county records department and find out ahead of listing your home about any open permits. Remember that patience is a virtue, and you’ll have plenty of chances to practice, due to the red tape you’ll likely encounter in updating your records, this process can take some time.
Deadlines
When you are closing on a real estate transaction, there are deadlines for documents to be submitted that simply cannot be missed. Many of these forms are required legally by either federal or state guidelines, so it’s best to become familiar with these forms and when each is needed, as well as where they should be directed. Should a target date be missed, this can delay your home sale in Fort Myers. This is a huge responsibility so you’ll want to be certain you stay on top of all the timeline requirements for the paperwork and be sure to beat the clock.
Why wait at all? Don’t you want to avoid making simple mistakes that can delay your home sale in Fort Myers? Make it easy on yourself and sell to Core Real Estate Properties instead! Send us a message or call 239-360-3176 today to find out how we can help you!