Torpedoed Contracts are happening nationwide – Here are the top 3 reasons why
Excellent article regarding our ever-challenging market. These are the very 3 top reasons we’re seeing an unusually large number of deals falling through in Charlotte as well. I always advise my sellers not to envision themselves at the Closing table until we are through the Due Diligence period!
“What’s behind the unusually high rate of contract cancellations and settlement delays in the real estate market? With signs of recovery emerging in many parts of the country, shouldn’t deals be zipping along with minimal complications?
Apparently not. Nearly one-third of realty agents in a new national survey reported experiencing contract cancellations – purchases crumbling before going to closing – in February. That’s up dramatically from a similar poll 12 months earlier, when just 9 percent of agents reported cancellations. Another 18 percent reported delays in scheduled closings in the latest study, which involved approximately 3,000 agents surveyed by the National Association of Realtors.”
Via Scoop.it – Real Estate Across America
What’s behind the unusually high rate of contract cancellations and settlement delays in the real estate market? With signs of recovery emerging in many parts of the country, shouldn’t deals be zipping along with minimal complications?