Common Pitfalls Of The Transaction


Unfortunately, things in the Real Estate world are not as easy as they once were. Below are some things to keep in mind as these things may get complicated throughout the transaction:

Financing — There are so many different types of programs out there now that each have different requirements. Be prepared for sudden or last minute changes involving requirements for lenders due to underwriting.

Appraisals — Although appraisals run hand and hand with financing, a special note needs to be made about them because at certain times, especially during our busy season, appraisals may take longer than usual.

Safe Water Testing — Different loan programs require different results. Even though your numbers may be in “Safe Levels” some programs require a certain number that may be lower than the “safe” level. Be prepared for this possible obstacle.

New Guidelines — Closing documents must now be final for 72 hrs prior to closing. This means that if any changes need to be made to the closing docs last minute, it will be another 72 hrs before closing may occur.

Additional Requirements — Please anticipate that the closing date may move due to new financing laws, or to meet bank and appraisal requirements. My job is to manage your expectations and I will try to prepare you for any and every bump that could occur in your road to a smooth transaction.

Region Specific Issues — In our unique market banks often do not understand wells ( specifically point wells ), septic systems, easements roads, shared drives and other regional issues not common in more urban transactions. Also, all government loan programs have different well/septic setback standards than local zoning requires so often times a variance is needed which can take over 6 weeks to obtain.


None of this is meant to scare you. It is simply meant to help prepare you for some of the obstacles we may or may not cross when buying your home. Things have changed in Real Estate and we just have to do our best to stay on track and do everything we can to have a smooth and successful closing!