Many things have to be in order for a property closing to happen on a real estate transaction. Below is a list of some of the most common things that cause a closing not to happen. Know what obstacles to fix ahead of time or make your title company aware of ahead of time, so that you will have a smooth closing!
Divorce or Separation
Bankruptcy of any kind
Recent Marriage of Buyer or Seller (Congrats! But it can be a closing obstacle)
Easements obtained or given since purchase of a property
Trusts
Foreign sellers
Guardianship or Incompetence of seller (due to dementia or something else)
Power of Attorney
Deaths
Shared Driveways
Seller or Buyer that won’t be present at the closing (work out the details ahead of time!)
Known encroachments
Liens or judgements against property owners
Short Sale
Foreclosures
Pre-Nuptial Agreements
These things don’t necessarily keep you from closing, but must be addressed ahead of time with the title company so they can work around these issues.
