You hunted until your feet were sore, found your dream home and made an offer that was accepted. Time to exhale, right? Not quite.
“The first rule of real estate: All contracts must be in writing to be binding,” says David Rosen, a real estate agent with Douglas Elliman in New York City. That means until you actually have a signed contract, your accepted offer is just a good faith agreement. But it all works out, right? Unfortunately, no: A number of pitfalls can come your way before closing, leaving you with no home to move into (and no legal recourse). The good news: Most snags can be be prevented with preparation and speed—you just need to be educated on what could lie ahead. Here, the most common problems buyers run into.
from https://www.apartmenttherapy.com/offer-buy-house-closing-mistakes-259153
from waaaay over here —> 6 Common Snags That Keep Your Contract from Closing
from Sofia Consola
via 6 Common Snags That Keep Your Contract from Closing
