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Escrow/Closing Problem Checklist
Average Time Delay
1. Buyer and seller do not sign
escrow/closing promptly. 5
days
2. Buyer's good-faith deposit check does not
clear. 3
days
3. Buyer does not complete loan application
in a timely manner. 10 days
4. Buyer or seller does not return calls of
agent or lender. 10
days
5. Buyer or seller wants to change some
terms of the transaction. 5
days
6. Buyer loses job. 30
days
7. Buyer lied on prequalification to lender. 10 days
8. Buyer cannot supply tax returns in timely
manner. 10
days
9. Seller changes mind about selling. 5 days
10. Seller leaves town and does not leave a
power of attorney with anyone. 5
days
11. Seller did not disclose all liens against
him/herself. 20
days
12. Unknown problems with home are discovered. 10-30
days
13. Low appraisal. 15
days
14. Slow appraisal. 15
days
15. Difficult appraisal. 5
days
16. Incorrect appraisal. 15
days
17. Lender made a mistake on prequalification. 5
days
18. Lender decides not to loan on property or
borrower. 10-30
days
19. Borrower does not qualify for loan. 10
days
20. Lender requires repairs on property. 15
days
21. Agents do not return calls. 5
days
22. Agents go on vacation. 5
days
23. Buyer or seller does not sign final closing
papers in a timely fashion. 5 days
24. Escrow/closer/lender loses file. 10
days
25. Escrow/closer/title company/lender very
busy. 5-20
days
26. Seller or buyer wants to change closing
date. 5
days
27. Inspection companies too busy or slow. 5-10
days
28. Many things called on inspections. 5 days
29. Additional inspections required by
appraiser or lender. 5-10 days
30. Title company finds problems with the
title. 5-10
days