Sellers Beware: Buyers are often unaware of credit problems and sometimes these are revealed just before closing.

This is a second post that is written to inform sellers so that they will be prepared when difficulties come while selling their homes.

I recently had a seller that had to wait almost three additional weeks to get their home to close.  The buyer had gone through bankruptcy a few years prior.  He had cleared all the hurdles to buy a home and yet just before closing a lien was discovered that had to be cleared.

Somehow the lawyer who had helped him with the bankruptcy had failed to notice that a bank had secured a lien on any future property that he may purchase.  The buyer had to go through the legal press necessary to clear this lien. 

This was a new experience for me and for the buyer’s agent.  Combined we have over thirty years of experience selling real estate.  The point I want  sellers to  understand is that there are so many different things that can make it difficult to sell your home.  Getting an acceptable contract is exciting but just the beginning of the process to close the deal.

To read the previous post to help sellers just click on this link.

 

 

 

Speak Your Mind

*