3 Reasons Why Your Real Estate Closing Stalls

The real estate closing is the last stage in a residential or commercial property acquisition procedure when the deed and monies transfer from the seller to the buyer. The targeted closing date is often set in the sales contract, but delays are not uncommon. If you’re a buyer anxiously awaiting the keys to your new home or investment property, here are three reasons your real estate closing may have stalled.

1. You’re not ordering a home inspection

A home inspection is critical in any real estate transaction – whether you’re buying, selling, or even refinancing. An inspector will look for all potential problem areas in the home, from the roof and foundation to the plumbing and electrical systems. If there are any significant issues, you’ll need to have them fixed before closing on the property.

2. You’re not getting a pre-approval statement

A pre-approval letter from your lender is one of the most critical steps in the home-buying process. This document states that you’ve been approved for a loan up to a certain amount, based on your credit history, employment history, and other factors. Securing financing will move the closing process forward faster.

3. You’re not working with a real estate attorney

While you’re not required to have an attorney, it’s generally in your best interest to have one on your side. A knowledgeable real estate attorney helps you navigate the often-complex world of real estate law. They can also assist with negotiating and drafting contracts and handle any potential legal issues, like title disputes or problems with the property itself.

If you’re having trouble closing a property, make sure Camden Law Office is on your side. Our experienced real estate attorneys can help you overcome any obstacle, from inspections to financing. Let us help you close on your dream property without delays.

If you’re having trouble finalizing a closing on a property, make sure Camden Law Office is on your side. Experienced real estate attorneys like ours can help you overcome any obstacle and minimize risks. Let us help you close on your dream property without delays.

Contact Camden Law Office at 630-568-6656 to learn more about our Illinois real estate legal services and background. Our experienced real estate lawyers serve our Chicago community in Downers Grove, Naperville, Hinsdale, Oak Brook, and surrounding areas.

Camden Law Office

5330 S. Main Street

Suite 200

Downers Grove, IL 60515

www.camdenlawoffice.com/real-estate-law/