These Are Some Of The Major Issues Affecting Contract Settlement

February 10, 2016

Between October and December of 2015, the REALTORS Confidence Index Survey Report shows that 33 percent of contracts had delayed settlement. This is based on respondents reporting on their last contract that went into settlement or was terminated during this time frame.

Of this 33 percent of delayed contracts, 45 percent were delayed because of financing issues, 18 percent were due to appraisal issues, and 13 percent were due to home inspection or environmental issues.

Additionally, seven percent of contracts were cancelled. Of the contracts that were cancelled, 29 percent were due to financing issues and another 29 percent were due to home inspection/environmental issues. Appraisal issues came in third with 13 percent.

For the full break down of the stats from the survey, follow the link below.

Read more