On This Page
- 1 1. Buyer Underwriting Isn't Finished
- 2 2. Appraisal Problem
- 3 3. Title Found a Problem
- 4 4. HOA Documents
- 5 5. Insurance
- 6 6. Buyer Funds
- 7 7. Seller Payoff
- 8 8. Trust or Estate
- 9 9. Power of Attorney
- 10 10. Last-Minute Contract Change
- 11 11. Signing Issue
- 12 12. Recording
- 13 What Should You Ask?
- 14 How Lisa Helps
1. Buyer Underwriting Isn't Finished
The lender may still be verifying:
- Income
- Assets
- Employment
- Debt
- Source of funds
- Insurance
- Conditions
A preapproval is not the same as final loan approval.
2. Appraisal Problem
The appraisal may:
- Be late
- Come in below contract price
- Require clarification
- Identify repairs
- Need lender review
3. Title Found a Problem
Examples:
- Old mortgage
- Judgment
- Mechanics lien
- HOA lien
- Ownership mismatch
- Missing deed
- Trust issue
4. HOA Documents
Las Vegas Valley has many common-interest communities.
An HOA transaction may involve association documents, financial information, resale documentation, lender review or payoff information.
If the property has both a master association and a sub-association, there may be more than one layer.
5. Insurance
Buyer may have trouble obtaining acceptable homeowner coverage or satisfying lender insurance requirements.
6. Buyer Funds
A bank may delay a wire or buyer may not have moved funds early enough.
7. Seller Payoff
A mortgage servicer may not have provided the required payoff or a payoff may need correction.
8. Trust or Estate
If the seller is a trust, estate or inherited-property owner, title may need proof that the person signing has authority.
9. Power of Attorney
The POA may need review before it can be accepted.
10. Last-Minute Contract Change
Credits, repairs or purchase terms change.
Now lender/escrow documents may need to be updated.
11. Signing Issue
One party may be:
- Traveling
- Out of state
- Unable to appear
- Missing identification
12. Recording
Signing isn't necessarily the final step.
Documents still need to satisfy recording and closing requirements.
What Should You Ask?
Not:
"WHY IS EVERYONE SO INCOMPETENT?"
Ask:
WHAT SPECIFICALLY IS PREVENTING CLOSING? WHO IS RESPONSIBLE FOR SOLVING IT? WHAT ARE THEY WAITING FOR? WHAT IS THE REALISTIC NEW TIMELINE?
That converts vague frustration into an action plan.
How Lisa Helps
A major part of Lisa's job is not merely finding the house or listing it.
It's identifying the bottleneck and making sure the person who can actually solve it is moving.
