When you are selling a house, receiving and accepting an offer on it can be very exciting. Once this happens, you may have some things to do before the closing date is scheduled, and failing to do the things required of you by this date can hold up the closing. Here are several things that can hold up the closing on your house, and you should avoid these if you want to close on the deal.
Failing to fix things required in the contingencies
A great way to postpone your closing is by failing to do what you agreed to do on the purchase agreement. Many purchase agreements contain contingencies, and these are things the buyer asks the seller to do. When the seller agrees, he or she is responsible to complete them before closing. For example, if the seller asked you to repaint the living room in the house, your closing can be held up if this is not done in time.
Forgetting to address liens on property
As the seller of the house, it is your responsibility to address liens you have on the house that you do not agree with. If you do not, they will get paid at your closing whether you like it or not. If you get to the closing and find out there is a lien you must pay, you will not be able to close on the house if you refuse to pay the lien. You must remedy all liens before the closing to prevent postponing it.
Finding problems in the house during final walkthrough
Another thing that can prevent the closing from taking place is the buyer finding problems when they walk through your house for the final walkthrough. For example, if it is winter and the house is freezing inside, they can postpone closing if they find out the furnace is out of order. Even though the contract may not have specifically stated that the furnace must work, you should make sure it is. Anything like this could prevent the closing from taking place, which means you should do all you can to make sure everything is working as it should be before the final walkthrough takes place.
The agent you hire will help you know exactly what your responsibilities are before closing, but it will be up to you to do them. If you have questions or concerns about selling your house, talk to your real estate agent. For more information, contact a business such as Mckee Kubasko Group Real Estate.
