Unexpected Extensions

Even though it was not the fault of buyer or seller, they were both suffering because of this unexpected delay in the closing. This is not an isolated incident! This scenario happens more often than not when there is a lender involved.

There are so many reasons why a closing can be delayed that it would be impossible to list all of those scenarios. Buyers and sellers should understand that the closing date can never really be set in stone! The closing date may need to be moved several times before it sticks. Getting mad at each other or crabbing out rarely makes the situation better! Killing the deal because a buyer’s lender didn’t make the closing date is silly, especially when starting over to find a different buyer would take a much longer period of time. I have seen closings delayed for many months past the target date. In these cases, patience is a virtue, but if you understand that this is likely to happen, you may not be so frustrated! That’s easy for me to say, since it’s not my moving van waiting in front of the house.