WASHINGTON – Dec. 5, 2017 – Seventy-three percent of home sales closed on time in October, but 25 percent of Realtors® report a delay in getting to the settlement table, according to the latest Realtors Confidence Index, a survey based on responses from more than 3,500 real estate professionals.
Even with troubles, however, only 2 percent of Realtors said that problems terminated a contract completely.
Main Realtor-reported problems encountered with delayed settlements
- Issues related to obtaining financing: 32%
- Appraisal issues: 20%
- Home inspection/environmental issues: 16%
- Titling/deed issues: 11 percent
- Contingencies stated in the contract: 6%
According to the National Association of Realtors®, 74 percent of all contracts in October contained contingencies, most often for home inspections, appraisals or financing.
Source: “REALTORS® Confidence Index Survey,” National Association of REALTORS® (October 2017)
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