Closing Issues: What to Do If These Happen

Closing Issues: What to Do If These Happen

Any closing issues you face can be fixed - as long as they are handled correctly.

closing issuesThere are many factors to closing on a home, and sometimes (okay, most times) something is bound to go awry. There is a multitude of closing issues that any real estate professional can face during the time of appraisal. Luckily, no matter what happens, there are always ways to fix these road bumps:

1. Boxes galore.

Imagine you are an interested client. You see a listing on line and know immediately that you have to see it. You schedule a time for a showing, walk into the home, and… boxes. Boxes everywhere. Needless to say, this is not a great first impression – but it happens more than you’d think. We all know how difficult the process of moving out is, but the whole idea of a showing is to showcase the home while it looks its best – and that means any moving boxes or additional clutter should be cleared beforehand. Or, at the very least, stuffed into a storage closet.

2. Missing items.

There are typically items that come intact with every home that sellers are required to leave behind for the next tenants. These items can include washer/dryer combos, refrigerators, light fixtures, bathroom mirrors, dishwashers, stoves, toilets, microwaves, etc… But what if one or more of these items goes missing? As the agent, you should make sure that the seller is aware of what they can and cannot take with them. A good rule of thumb is thinking back to when you bought the home: if the item was there when you bought it, it stays when you leave.

3. Newfound damages.

When did that red wine stain get on the carpet? Have those scratches on the countertops always been there? If a new damage is found during the closing process, it is typically up to the seller to make sure it is fixed before the contract closes. In these cases, the seller should always be willing to offer the buyer a credit, which is something that should be discussed before the selling process even begins – neither party will want to be surprised by unexpected costs or damages.