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Here are typical challenges home sellers faces during a real estate transaction. I am prepared to counsel and guide you through these obstacles if they occur:


Delays in Financing

  1. Lender did not properly pre-qualify the buyer.
  2. Loan institution raised rates, points or cost prior to closing.
  3. Incompetent loan Officer.
  4. Did not qualify because of late information.
  5. Loan documents lost or misplaced.
  6. Lender went on vacation.
  7. Lender required property repairs prior to closing.
  8. Property did not appraise to Lender’s satisfaction.
  9. Lender required second appraisal.
  10. Lender did not explain loan terms to buyer.
  11. Lender overwhelmed by applications.
  12. Loan officer delayed ordering appraisal when buyer was having trouble qualifying for financing.

Buyer Errors

  1. Buyer did not tell the truth on loan application.
  2. Buyer misrepresented truth to agent.
  3. Buyer gave incorrect tax returns to lender.
  4. Buyer lacked motivation.
  5. Source of down payment changed.
  6. Buyer’s family or friends did not like house.
  7. Buyer was too picky about condition of house.
  8. Buyer found another property a “better deal”.
  9. Buyer kept negotiating until they angered the seller/lender/agents.
  10. Buyer brought attorney into negotiations.
  11. Buyer failed to execute paperwork in timely way.
  12. Buyer went to escrow without required cashier’s check or wired funds.
  13. Had job change, divorce or other setback.
  14. Buyer short on money they claimed to have.
  15. Buyer did not deliver earnest money according to contract terms.
  16. Buyer rejected terms of loan.
  17. Buyer did not obtain insurance binder in time.
  18. Buyer failed to qualify due to omitted information.

Escrow Problems & Title Shortcomings

    1. Failed to notify agents of problems to solve.
    2. Failed to obtain information regarding seller’s loan payoff(s).
    3. Principals left escrow without required signatures.
    4. Passed on misinterpretations or incorrect assumptions to parties.
    5. Lost paperwork.
    6. Prepared documents incorrectly.
    7. Loan officer gave escrow incorrect rates and loan terms.
    8. Calculated incorrectly the property taxes, insurance and liens.
    9. Missed dead lines, which slowed closing process.
    10. Poorly coordinated.
    11. Loan authorization so late that escrow documents were not ready at closing.
    12. Unwilling to bend on small problems.
    13. Failed to find liens or title problems until too late.
    14. Missed UPS or FedEx dead lines, which held up closing.

Appraiser Responses

  1. Misunderstood local market conditions.
  2. No comparable sales.
  3. Workload delays.
  4. Made critical mistakes.
  5. Value too high/too low.
  6. Additional work orders.

Inspection Problems

  1. Scared buyer when too picky about conditions.
  2. Offended seller.
  3. Made mistakes.
  4. Delayed report.
  5. Revealed defects that seller’s would not repair.

Seller Challenges

  1. Homeowners lost their motivation to sell.
  2. Affected by job change illness or divorce.
  3. Discovered hidden or unknown home defects.
  4. Inspection required work orders that seller was unwilling to repair.
  5. Removed property that buyer expected to stay.
  6. Unable to clear liens or title problems.
  7. Discovered last minute liens to resolve.
  8. Did not own 100% of property as disclosed.
  9. Made false assumption that partners would sign off.
  10. Left town without assigning Power of Attorney.
  11. Delayed projected “moving out” date.
  12. Failed to correct items on structural inspection.
  13. Signed addendum to perform work orders but changed mind.

Acts of God

  1. Windstorms
  2. Fire
  3. Flood
  4. Earthquakes