Why Do Closings Get Delayed?

Closing delays happen more often then you think. This is never fun and can be stressful for buyers, sellers, Realtors, Lenders, closers, etc.

Its important to know that closing is the KEY to owning a home. You can buy or sell without the closing.
Thus, getting to closing is the finish of a long race that has several pit stops and sometime a couple crashes along the way.

Thus, it takes everyone that is part of the transaction to work together to get a sale to closing.

Common delays are due to financing. One that is happening alot now is USDA loans are so backed up we are seeing all sorts of delays. USDA loans in the Isanti, norther Sherburne, Chisago, Kanabec, Mille Lacs, Wright and Pine county areas are taking an additional 30 days to close.

Also appraisal issues can come up which can delay a closing. It might be a repair issue or a value issue, but either way these take time to correct.

Another issue I see is buyers, especially first time buyers, have trouble getting all their paperwork turned in within a timely manner. If you dont get all the documentation in on time, you will have delays.

There are several other things that can delay closings but these are some of the more common issues I have been seeing.