6 Things That Slow Down the Closing When Buying a House in Harford County

Buying a house can be a long and complicated process, with the closing being especially challenging. Even in a bustling market like Harford County, several things can slow down the closing process. However, with the right guidance, many of these delays can be avoided. In this blog post, we’ll discuss six things that can slow down the closing process when buying a house in Harford County and what you can do to avoid it.

1. Financing Delays Holding Up the Sale

Financing is a critical aspect of the home buying process, and financing delays can cause significant delays in the closing process. If you’re taking out a mortgage to purchase a home, it’s essential to have all your financial documents in order before you start the process. This includes pay stubs, bank statements, tax returns, and any other financial documents your lender requires.

One of the most common causes of financing delays is missing or incomplete documentation. If your lender requests additional information or documentation during the loan process, it’s important to provide it promptly to keep the process moving. Any delays in providing the required documents can slow down the loan approval process and delay the closing.

By being organized and proactive, you can help ensure that the financing process goes smoothly and the closing is not delayed. Working with a reputable lender and mortgage broker can also help ensure that the process proceeds as planned and any issues are addressed promptly.

2. Title Issues Causing Delays

Title issues can be a major cause of delay in the closing process. When you’re purchasing a home, it’s important to ensure that you’re receiving a clear title, which means that there are no claims or liens against the property that could affect your ownership. A title search is a critical step in the home-buying process that can help identify any potential issues and ensure that the title is clear. 

During a title search, a title company will review public records to verify the seller’s legal right to sell the property and to identify any potential issues that could affect the transfer of ownership. These issues can include unpaid taxes, liens, judgments, or other claims against the property. 

To avoid title issues and potential delays in the closing process, it’s important to work with a reputable real estate agent and title company. They can coordinate the title search and ensure that any issues are resolved before the closing. By taking this proactive approach, you can avoid unnecessary delays and ensure a smooth and successful closing.

3. Home Inspection Issues

Home inspections are a critical part of the home-buying process. Inspectors can identify issues with the home that you may not have noticed during your initial walkthrough. If there are issues found during the inspection, they’ll need to be addressed before the closing can take place. This can include repairs or further inspections to ensure the problems have been resolved.

4. Appraisal Issues That Arise

Appraisals are another critical aspect of the home-buying process. The appraisal determines the value of the home and ensures that the price you’re paying is fair. If the appraisal comes back lower than the agreed-upon price, it can cause significant delays in the closing process. This is because your lender may require a new appraisal or ask you to come up with additional funds to make up the difference.

5. Closing Document Errors

Closing documents are a crucial part of the closing process, and errors can cause significant delays. It’s essential to review all of your closing documents carefully and ensure that everything is accurate. This includes your loan documents, title documents, and any other paperwork required for the closing. If there are errors, it can delay the process as the documents will need to be corrected and re-issued.

6. Buyer and Seller Scheduling Issues

Finally, scheduling issues between the buyer and seller can cause significant delays in the closing process. It’s essential to ensure that everyone involved in the closing is available on the scheduled date. This includes the buyer, seller, real estate agents, and any other parties involved in the transaction. If someone can’t make the scheduled closing, it can cause significant delays and may require rescheduling the closing altogether.
The closing process can be a challenging and time-consuming part of buying a house in Harford County. However, by being aware of the potential issues that can slow down the process, you can take steps to ensure a smooth closing. Be prepared, stay in touch with your lender, review all documents carefully, and keep everyone informed of any scheduling conflicts. With these tips in mind, you’ll be well on your way to a successful closing. At Jedd Cheshier and the We Sell Harford Homes Team with Taylor Properties, we handle all of the details to ensure there aren’t any delays during the closing process. Whether you are buying or selling a house in Harford County, reach out to Jedd Cheshier and the We Sell Harford Homes Team with Taylor Properties to find out how we can help you! 443-616-5486

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