It doesn’t matter if you plan selling Houston Texas Real Estate, or you’re a buyer and are searching for Houston Texas Homes for Sale, the home closing can turn into a DISASTER and could be called off for one or more reasons.

In this article we will share with you the top reasons the closing of a home can be called off for both buyers and sellers.

For Sellers

Home Inspection – The home inspection is the most critical part of selling Houston Texas Real Estate because most buyers will have their offer contingent upon your home passing inspection and if it doesn’t pass inspection you can say goodbye to the buyer.

Before the home inspector shows up make sure that you get your home ready for inspection by fixing or repairing areas of your home where work is needed.

It’s also best to make obvious renovations to your home before it sells like replacing worn out flooring, painting, or repairing the roof because if your home shows obvious signs of needing repair or renovation this will mean that you can expect to sell your home for less than what it’s worth.

Financing – This is another BIG area where the sale of your home can fall through because many times buyers will only be pre-qualified for a mortgage loan so it’s always best to make sure that a buyer has been pre-approved for financing when they are submitting an offer on your home because the pre-approval process insures that buyers will have gone through more “hoops” in order to be approved for a mortgage loan.

If this sale of your home does fall through it’s best to say goodbye to that buyer and let your home go back on market because even though a buyer may “try” to get financing the reality is that it’s hard for a buyer to purchase a home without financing from a lender.

For Buyers

Appraisal – Finding the home of your dreams is a fantastic feeling but that home could fall through your hands if the home is appraised for more than the mortgage loan you have been pre-approved for.

Sadly there are few options for buying a home if it’s been appraised for more than your mortgage loan but some options you might want to consider doing include: asking the owner if they would be willing to accept a lower offer, or you could try raising cash to pay the difference between what the seller is asking and what the home was appraised for.

Financing – When buying a home one of the biggest ways a sale can fall apart is if the buyer decides to make a major purchase like buying a car, boat or other large luxury item because such purchases would ruin the buyers debt-to-income ratio and the lender would have to do their mortgage loan pre-approval all over again.

Search for Houston Texas Real Estate 

To get started with searching for Houston Texas Homes For Sale, or to buy Houston Texas Real Estate contact me, Kim Buish, Realtor(R) with Red Door Realty and Associates by calling me at (713) 819-1642 or click here to connect with me online.