Top 3 Reasons Contracts Fail to Close

Not all contracts to buy real estate in Charlotte NC successfully close. When buying (or selling) a home, keep in mind these top 3 reasons contracts fail to close:

1. Buyer Financing. For any number of reasons, buyer loan failing to close is a big reason behind homes coming back on the market. This is also the #1 reason it’s SO important to have a solid loan pre-approval when starting a home search, a Guaranteed Loan Pre-Approval is even better

2. Inspection and Repair Issues. Lack of agreement, the amount and type of issues uncovered, or buyer dissatisfaction with inspection results and repair negotiations can also lead to a failed purchase contract.

3. Buyer Changes Their Mind. This can and does happen! Buyer found a better option, something in their personal situation changes, or they simply decide to cancel the contract before the Due Diligence deadline.

When it comes to buying or selling a Charlotte area home, being Under Contract is great but it is never, ever, ever a sure thing until the loan is funded, deed is recorded and it’s officially CLOSED!

Considering buying a home in Charlotte? Set yourself up for success by having a team of professionals to guide and support you throughout the home buying process….it’s more than just searching for a home, contract to closing is an important part of the process!

We hope this information on common reasons home purchase contracts fail has been helpful. Have questions or need a local home related resource? Email me today at dmcdermottcharlotte@gmail.com

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Copyright©2014 by Diane McDermott, All Rights Reserved, “Top 3 Reasons Contracts Fail to Close”

The content of this blog is the original content of Diane McDermott, NC Residential Real Estate Broker in Charlotte NC’s real estate market serving neighborhoods in Charlotte NC

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About dianemcdermott

Diane is deeply passionate about serving single and divorced women home buyers, first time home buyers and new to the area buyers navigate the Charlotte area home buying process. Having recently navigated separation and divorce she has deep respect for the stress of transition and need for a home living situation that supports and nurtures. She connects and guides clients as they navigate the home buying process, transitioning to a space they'll love calling home. Landis E2 Real Estate LLC
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