If you’re buying a house in Lake City, you probably already know how long the closing process takes.
But what can delay it, making you wait even longer to move into your new home?
Common Causes of Home Closing Delays
When you’re buying a house in Lake City, or anywhere else, for that matter, there are a few things that can push your closing date farther and farther into the future.
Naturally, you want to make sure you give your lender all the paperwork they ask for, and you want to do it quickly; you don’t want to slow down the process by forgetting to submit documentation, such as pay stubs, tax returns, or other important information.
However, sometimes it has nothing to do with the buyer; sometimes the lender requires more time.
Some of the most common reasons for delayed closings include:
- Low appraisal
- Review appraisals
- Mistakes on your credit report
- New judgments filed against either the buyer or seller
- New liens filed against either the buyer or seller
- Clouds on the title
- Mistakes on your credit report
- A change in your marital status (or the seller’s marital status)
- Out-of-date financial documents, such as bank statements
- Missing insurance information
If your closing keeps getting pushed back, your Realtor will help you figure out why. There isn’t always something you can do about it, but being informed makes the wait a little better.
Are You Moving to Lake City?
If you’re moving to Lake City, we can help you find the perfect place to live. Call us at 386-243-0124 to tell us what you want from your home and we will begin searching right away.
In the meantime, check out the most popular Lake City home searches by exploring the links below.
- Water Front Residential
- Water Front Land
- Bank Owned & Foreclosures
- Short Sales
- Paved Road Frontage
- Non Deed Restricted Land
- Wooded Oak Tree Land
- Land for Land Home Combo
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