Posts from December 21st, 2020
TEAM T.P.G. Blog
RSS Feed
Subscribe and receive email notifications of new blog posts.
RSS Feed
Bakersfield, CA | 40 Posts
Buy a House | 6 Posts
Central CA | 3 Posts
Home Improvement | 6 Posts
Homeowners | 8 Posts
Sell a Home | 6 Posts
December
21
21
Don't Let These 5 Things Hold Up Your House Closing
Although closing on a house may seem pretty straightforward, many things can happen that hold up this process. If you're looking at Bakersfield homes for sale, you want to be sure you understand the ins and outs of house closings. Our agents are ready to answer your questions and can ensure this process goes smoothly during the purchase of your home in the Bakersfield area.
Here are five things that can hold up your house closing.
- Approval of a loan
Most buyers depend on getting a loan to buy a house. Failure to secure this loan by the closing date can delay the closing. The reasons why a loan can be delayed are varied, including spikes in interest rates, which affect qualification for the loan if it is not locked in, or suddenly the buyer's credit score or income changes, so the underwriter rejects the loan. Often, the seller must agree to an extension to keep the contract from expiring or being canceled. To avoid these situations, get a preapproved mortgage loan before submitting an offer; you can also try to be pre-underwritten for a loan.