Now that you are under contract we are in a process called Escrow, which is the time period from contracting to close, typically 30-60 days. Depending upon your specific contract, up to 25 or 30 people may have “hands on” involvement with the process. The more people involved, the more that can go wrong.

Here is a list of the 65 most basic things that can go wrong in a “typical” sale. A complex contract could raise this number significantly. Our job as your Real Estate Consultants is to eliminate, or at least minimize this list, making your “cruise” as pleasurable as possible.

1. Lender does not properly pre-qualify borrower.
2. Lender has a personality conflict with the borrower.
3. Lender decides last minute they aren’t comfortable with the property.
4. Lender wants property repaired or cleaned prior to close.
5. Lender raises rates, points, or costs.
6. Borrower does not qualify because of a late addition of information.
7. Lender requires at the last minute, a re-appraisal.
8. The borrower does not like the fine print in the loan documents that are received 3 days before close.
9. Lender misplaces a file.
10. The lender does not get complete information up front from the buyer, they ask for it in bits and pieces.
11. Lender pulls a “bait & switch” on the buyer, changing the loans at the last minute.
12. “Conditions” affecting loan approval mysteriously appear the day before close.

The Buyer
1. Did not give thorough information on loan application.
2. Did not give thorough information to their agent.
3. Flat out lied.
4. Submits incorrect tax returns to lender.
5. Develops “buyer’s remorse” or is not otherwise fully committed to the transaction.
6. Source of down payment changes.
7. Family members do not like purchase.
8. Is too demanding regarding condition.
9. Finds another property that is a better deal.
10. Always negotiating, instead of following through with transaction already agreed to.
11. The buyers bring an attorney into the picture, after the fact.
12. They do not execute paperwork in a timely manner.
13. They do not deliver their money in a “check cleared” fashion to the closing agent.
14. Job changes, illness, divorce, death, or other financial setback.
15. Comes up short on money.
16. Does not obtain homeowners insurance in a timely manner.


The Seller
1. Loses motivation (job transfer did not go through, lost new home contingency, etc.)
2. Sudden family trauma – illness, accident, divorce, etc.
3. Hides known defects that are subsequently discovered.
4. Unknown defects are discovered.
5. Home inspection reveals defects that seller is unwilling to repair.
6. Removes property from the premises that the buyer believed was included.
7. Is unable to clear up title problems or liens.
8. Last minute solvable liens are discovered.
9. Seller did not own 100% of property as previously disclosed.
10. Seller thought partners’ signatures were “no problem,” but they were.
11. Seller leaves town without giving anyone power of attorney.
12. The notary did not make a clear stamp when notarizing the seller’s signature.
13. Seller delays the projected move-out date.

The Title/Escrow Company
1. Fails to notify agents of un-signed or non-returned documents so that the agents can counsel and motivate clients to perform.
2. Fails to obtain information from beneficiaries, lien holders, other title companies, insurance companies, or lenders in a timely manner.
3. Delays in ordering title report.
4. Lets buyers or sellers leave town without getting all necessary signatures.
5. Incorrect at interpreting aspects of the transaction or making assumptions and then passing these on to others in the transaction.
6. Loses paperwork.
7. Incorrectly prepares paperwork.
8. Does not pass on valuable information fast enough.
9. Does not coordinate well so that many items can be done simultaneously.
10. Does not find liens or problems until last minute.
11. Poor service.
12. Allows documents to be improperly executed.

The Appraiser
1. The appraiser is not local and misunderstands the market.
2. Can’t find comparable sales available in the area.
3. Appraiser delays (too busy or too disorganized)
4. Incorrect appraisal.
5. Appraisal too low.
6. Comparable properties unacceptable to loan underwriter.

The Real Estate Agents
1. Let their egos get in the way.
2. Are not diligent enough in follow-through.
3. Do not understand the need for good communication, such as returning calls promptly.
4. Are out “selling,” instead of running their own business, especially providing service and “getting it closed.”
5. Only show up to “put out fires,” and only when their commission is in jeopardy.
6. Change companies or leave the Real Estate business in the middle of a transaction.