A wise person prepares for problems before they happen! No home is truly sold until escrow is closed. Over twenty years of experience and over three hundred successful closings have armed me with the tools to overcome each and every problem encountered here; however, it would be unfair for me to say that every problem can be solved.

The following items are potential road blocks. I have placed an estimate of the potential delay next to each item. The ones with asterisks (*) are potential sale-killers.

Lender Problems:

• Lender does not properly pre-qualify borrower. 2 weeks*
• Lender decides last minute they don't like borrower. 2 weeks*
• Lender decides last minute they don't like property. 2 weeks*
• Lender wants property repaired or cleaned prior to close. 1 to 3 weeks
• Drawing Fees: Deed, Private Notes & Deeds of Trust
• Lenders Fees: May include loan origination fee, appraisal fee, credit report, tax service fee, prepaid interest, processing fee, document prep fee
• Lender raises rates, points, or costs. 2 weeks*
• Borrower does not qualify because of a late addition of information. 2 weeks*
• Lender requires, last minute, a re-appraisal. 2 weeks
• The borrower does not like the fine print in the loan documents. 3 days*
• Lender loses file. 1 to 3 weeks
• The lender does not simultaneously ask for information from the buyer, they ask for information in bits and pieces. 1 to 4 weeks

Buyer's Agent:

• Won't return phone calls. 1 to 3 weeks
• Transfers to another office. 1 week
• Did not verify the client's sincerity. 2 weeks*
• Goes on vacation and leaves no one to handle file. 1 to 4 weeks
• Does not understand or lacks experience in real estate. 1 week*
• Poor people skills or poor relationship with their client. 1 to 3 weeks
• Gets client upset over minor points. 1 to 3 weeks
• Does not communicate with their client. 1 to 4 weeks

The Buyer:

• Did not tell the truth on the loan application. 1 week*
• Did not tell the truth to their agent. 1 week*
• Submits incorrect tax returns to lender. 4 weeks*
• Lacks motivation. 1 week*
• Source of down payment changes. 1 week*
• Family members do not like purchase. 1 week*
• Is too picky regarding condition. 1 week*
• Finds another property that is a better deal. 4 weeks*
• They are "nibblers." (Always negotiating) 1 week*
• The buyers bring an attorney into the picture. 2 weeks*
• They do not execute paperwork in timely matter. 3 weeks*
• They do not deliver money in a "check cleared" fashion to the closing agent. 1 to 2 weeks*
• Job change, illness, divorce, or other financial setback. 3 weeks*
• Comes up short on money. 1 week*
• Does not obtain insurance in a timely manner. 1 to 4 weeks

Escrow Officer

• Fails to notify agents of unsigned or unreturned documents so that the agents can cure the problems. 1 week*
• Fails to obtain information from beneficiaries, lien holders, title companies, or lenders in a timely manner. 1 week*
• Lets principles leave town without getting all necessary signatures. 1 to 2 weeks*
• Incorrect at interpreting or assuming aspects of the transaction and then passing these items on to related parties such as lenders, attorneys, buyers, and sellers. 1 week*
• Too busy. 1 to 3 weeks
• Loses paperwork. 1 to 3 weeks
• Incorrectly prepares paperwork. 1 to 3 weeks
• Does not pass on valuable information. 1 to 4 weeks
• Does not coordinate well so that many items can be prepared simultaneously. 1 to 4 weeks

Seller

• Loses motivation (i.e., job transfer did not go through, etc.) 1 week*
• Illness, divorce, etc. 1 week*
• Has hidden defects that are subsequently discovered. 1 week*
• Unknown defects are discovered. 1 week*
• Home inspection reveals small defects that the seller is unwilling to repair. 1 week*
• Gets an attorney involved. 1 week*
• Removes property from the premises that weeks the buyer believed was included. 1 to 3 weeks
• Is unable to clear up problems or liens. 1 week*
• Last minute liens are discovered. 1 to 3 weeks
• Seller did not own 100% of property as previously disclosed. 1 week*
• Seller thought the partners signatures were "no problem" but they were! 1 week*
• Seller leaves town without giving anyone power of attorney. 1 to 3 week
• The notary did not make a clear stamp when notarizing the seller's signatures. 3 days to 1 week
• Seller delays the projected move-out date. 1 week*

Acts of God

• Earthquake, tornado, fire, slides, etc. 1 week*

Appraisal Problems:

• The appraiser is not local and misunderstands the market. 1 to 3 weeks
• No comparable sales available. 1 week*
• Appraiser delays (too busy) 1 to 3 weeks
• Incorrect appraisal. 1 to 3 weeks
• Appraisal is too low. 1 week*

Inspection Company:

• Too many issues called out. 1 day*
• Scares buyer. 1 week*
• Infuriates seller. 1 week*
• Makes mistakes. 1 to 4 weeks
• Delays report. 1 week*

Title Company:

• Does not find liens or problems until last minute. 1 week*
• Does not bend rules on small problems. 1 to 3 weeks
• Poor service. 1 to 3 weeks
• Loses paperwork. 1 to 2 weeks