We Guarantee to close your escrow on or before the date that is comfortable for you. Here are the Top 5 reasons escrows fall apart. When working with Propertybuyer.com you have ZERO to worry about!
1. Buyer Financing Woes
The housing market boom, house buyers never struggled with getting home loans, and house sellers didn’t worry much about a home sale falling through escrow because of the house buyer financing. Now, home buyer financing troubles are among the largest sale killers. It’s important to brace for this setback in several ways.
2. Low Appraisals
Appraisals can lower than the set contract price and cause a house deal to fall through. Lender will only lend up to the value of the house property, so if the home value appraises lower than the agreed amount, the buyer cannot secure the full mortgage.
3. Plan for Home Inspection and Title Insurance Surprises
Title insurance is to ensure the owner’s house is fully theirs to sell. Lenders require title insurance to protect the house — the asset— that secures a mortgage loan. If a house owner defaults on the mortgage loan and a faulty title reveals that the home is not actually theirs, the bank has no way of recouping the money it lent.
4. Buyer’s Remorse Watch for these Signs
For buyers, the entire home purchase process can be very emotional. They’re investing a substantial amount of money in what they hope is their dream home.
5. Don’t Hinge a Deal on the Buyer’s Home Sale
Many buyers need the equity in their current home to purchase a new one, and if your buyer’s home sale falls through, your home sale could fall through too.