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6 Common Snags That Keep Your Contract from Closing

by LiveModern Webmaster last modified May 28, 2018 01:07 AM
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by Chelsea Greenwood Lassman last modified May 24, 2018

You hunted until your feet were sore, found your dream home and made an offer that was accepted. Time to exhale, right? Not quite. "The first rule of real estate: All contracts must be in writing to be binding," says David Rosen, a real estate agent with Douglas Elliman in New York City. That means until you actually have a signed contract, your accepted offer is just a good faith agreement. But it all works out, right? Unfortunately, no: A number of pitfalls can come your way before closing, leaving you with no home to move into (and no legal recourse). The good news: Most snags can be be prevented with preparation and speed—you just need to be educated on what could lie ahead. Here, the most common problems buyers run into. READ MORE »






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