Heads Up! Here Are 5 Issues That Could Delay Your Real Estate Closing BuyerSeller July 11, 2024 **Whether you're the one buying or selling a home, the real estate closing is sure to be both exciting and daunting for you. Even though both parties agreed on a chosen date and might be pleased with the dollar amount on the table, there are still plenty of surprises that can be tricky to deal with.**  According to February 2024 data from the REALTORS® Confidence Index Survey by the National Association of REALTORS® (NAR), 11 percent of contracts in the past three months encountered delays, while six percent were terminated. While no one wants to wait longer than they need to for a real estate transaction to be completed, you may find your closing date delayed for several reasons. Some issues are relatively easy to solve, while others can be deal-breakers. Here are five of the most common problems that lead to delayed closings, and some tips on managing them. ### **1. Challenges in the buyer's financing**  Delayed or denied financing is a common cause of prolonged closing. Many home buyers, especially first-timers, don't realize that even though they were pre-approved for a mortgage months before and they already have a mortgage commitment, the loan is still not guaranteed. The lender still needs to review their credit and bank statements one final time within a few days of closing. Things could go wrong when that second verification reveals a new credit line that’s been opened (for a new car, new house stuff, etc), a change in employment, or some other issues. Remember that even the smallest changes in your financial situation can create problems up to the moment you close on the property. So changing jobs, applying for a new credit card, falling behind in paying your debts, receiving a cash gift, or having a sudden large deposit in your bank account are not advisable since the lender may request additional information or documentation, which could throw a wrench into the process. **To avoid this:** Don’t make any sudden financial moves in the weeks between loan approval and closing. Also, don’t forget to contact your lender days before closing to discuss and solve any issues that may have turned up. ### **2. Any discrepancy in the home's appraisal value**  A home appraisal determines the market value of a home. Lenders require an appraisal to verify that the property is indeed worth the price a buyer has agreed to pay for. The bank's appraisal value must match or exceed the home’s value or sale price. If the appraisal value falls short, the bank will delay the closing. Appraisal gaps, which is the difference between the appraised value of a home and the agreed-upon price, have recently become much more common because of soaring home prices. While this doesn’t necessarily mean that the deal is off, addressing it can take time. In fact, according to the REALTORS® Confidence Index Survey by the National Association of REALTORS® in February 2024, seven percent of contracts had delayed settlement due to appraisal issues. **To avoid this:** With the consensus of both parties, the seller can complete necessary repairs to increase the home’s value, or simply bring down their selling price. Buyers should also be prepared to pay the difference if the appraisal is too low. The parties could also contest the appraisal. Whichever the eventual solution, the closing date will likely move further into the future. ### **3. Issues with real estate title**  A real estate title asserts someone's legal right of ownership of a property. Before you buy or own your house, the title must be transferred from the seller’s name to yours. You also need to make sure that the person you’re buying from actually has the right to sell the property. This is when a title search becomes important. According to Bankrate, a title search is a process in which a title company or attorney examines public records to make sure that there are no claims, liens, or issues with a property that could result in another person or entity asserting they have a stake in the home. Issues such as tax liens or claims on the property from a relative or co-owner can postpone a real estate closing. Even unpaid HOA dues and minor errors in the home’s public records can cause significant confusion, putting a transaction on hold until everything is sorted out. **To avoid this:** A seller may be able to get ahead of title problems by having a real estate attorney track the home’s title history. But since problems with a real estate title can be the result of past mistakes, there’s not much a buyer can do to avoid them. They will definitely need some time to resolve, so a little flexibility and patience can go a long way. It may be frustrating, but it’s better to be safe than sorry before claiming your way into homeownership. ### **4. Problems with the money transfer**  On real estate closing day, you'll have to prepare the correct amount of funds to cover your down payment and closing costs. If there’s a problem with your fund transfer, you can expect to experience delays. While some financial institutions and title companies prefer cashier’s or certified checks, others require funds to be transferred electronically. If you’re instructed to wire funds, it’s critical to talk to your settlement agent or attorney about what their wiring requirements are. **To avoid this:** Before closing day, make sure to communicate with your real estate agent and lender about what form of payment is required. Also, be informed and know exactly what’s expected from you in the closing costs and certified funds. Don’t forget to have your checkbook with you and be ready to pay for small items that might crop up, such as an unpaid electric bill. ### **5. Ugly revelations during the final walkthrough**  The final walkthrough is typically completed after the seller has moved out a few days before, or even on the day of, settlement. It allows buyers to do one last check on the property, making sure that the home they're purchasing is in the same condition it was when they agreed to buy it (or even better). Surprises can arise during the final walkthrough that can influence the real estate transaction. Here are just a few of them: - Missing fixtures - Misunderstandings about which items stay and which go with the seller is a common issue. Perhaps you’ve taken a liking to a particular household item and assumed it would stay, only to find out that the sellers took it with them. Unless you’re really attached to the item, you may want to let this one slide if you want this deal to go through. - Unfinished repairs - If the seller “forgets” to fix any agreed-upon repairs or simply neglects to do them by the closing date, you might not be able to close on your loan until those repairs are complete. If you’re working with a trusted real estate agent, they’ll ensure that the repairs you’ve negotiated are completed well before the closing is scheduled to prevent delays. - Other last-minute revelations - Double-check if the appliances are working properly; that the utilities and other home systems are functioning, and even see to it that the toilets are working! **To avoid this:** Good communication is essential in solving any of the problems that arise during the final walkthrough. Be very detailed in your contract about what stays and what goes, and make sure it reflects your expectations. The same can be said about agreed-upon repairs after the home inspection. The safety and soundness of the property are of utmost priority, so ensuring that the seller either completes the necessary repairs, settles on a lower sales price, or even makes some other concession, will prevent the date of the closing from being pushed back. #### Suggested Blogs [  **From Date Nights to Mortgage Payments: Tips for Couples Buying Their First Home Together**](https://www.bsmithgroup.com/blog/2026/2/10/from-date-nights-to-mortgage-payments-tips-for-couples-buying-their-first-home-together)[  **Is the Washoe County housing market still a seller’s market heading into Spring 2026?**](https://www.bsmithgroup.com/blog/2026/1/29/is-the-washoe-county-housing-market-still-a-sellers-market-heading-into-spring-2026)[  **Are Sellers Still Getting Multiple Offers in the Washoe County Spring Real Estate Market?**](https://www.bsmithgroup.com/blog/2026/1/23/are-sellers-still-getting-multiple-offers-in-the-washoe-county-spring-real-estate-market)[  **How Competitive Is the Reno–Sparks Housing Market for Buyers in Early Spring 2026?**](https://www.bsmithgroup.com/blog/2026/1/20/how-competitive-is-the-renosparks-housing-market-for-buyers-in-early-spring-2026)[  **7 Simple But Effective Habits For A Cleaner and Tidier Home All Year**](https://www.bsmithgroup.com/blog/2026/1/20/simple-but-effective-habits-for-a-cleaner-and-tidier-home-all-year) Edit Lead Form OPEN PAGE Optional custom content for this leadform (unique to this page) Name First Name(required) Last Name(required) Email(required) Phone(required) By providing your cellular telephone, you are consenting to allow Smith Real Estate Group to contact you with informational communications via voice call, AI voice call, text message, or similar automated means. 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