Tidbits on Real Estate

You've got some good answers already, but assuming you're worried about things other than inspection-related repairs and appraisal-related financing problems, then the laundry list is actually quite long.
- Survey shows an encroachment or other problem
- Lender cannot clear borrower's conditions, e.g. a large collection cannot be paid off
- Borrower creates a problem on his credit, e.g. makes a large credit purchase of furniture
- Casualty loss on the property itself, e.g. wind tears off roof shingles, flooding of ground floor, fire, ...
- Title search reveals a new lien on the property, that creates a shortage the seller cannot cover
- Title reveals an heirship problem, especially in estate sales
- Title discovers a Federal tax lien is filed against the property
- FInal walkthrough inspection just before closing reveals previously hidden damage or new damage or theft by someone or removal by seller of real property, such as installed cabinets
Admittedly, all of these are rare. But, I have experienced all of these prior to closing but after appraisal and inspection (they're experience builders). Dealing with them usually takes both parties to compromise in some way, but certain of them just can't be solved. All of them will cause delay, at a minimum. - Tue Jun 17 2008, 22:08