Buying a home in Florida is the goal of many Americans for various reasons. Some people want to retire in Florida. Others want to move to the Sunshine State and start a family, allowing their children the opportunity to grow up in a warmer climate. Whatever your reason, the closing process of buying a home might not always go smoothly. There are some issues that can arise when trying to close on the purchase of a home in Fort Lauderdale.
It’s very common for inspections to reveal serious issues with the home when you sit down at closing. These inspections could find leaks, bugs, damage to the foundation and other problems. Inspection issues can prolong closing because you will likely want to negotiate with the seller of the property regarding fixing the issues before signing.
Problems with the title can also crop up during closing. The buyer is required to search for the title and purchase title insurance before closing on a home. Should there be any flags found on the title, it could prevent closing from occurring.
It’s also common for the seller to back out of the deal at the last minute. Why does this happen? Sellers might have found a better deal. They also might not want to make the necessary repairs to pass inspection. Maybe they have a change of heart and don’t want to sell their home. All of it is possible.
The problems discussed today are not exhaustive. There are plenty of other problems that can crop up when trying to close on a home. Be sure to get all of your documents in order prior to arriving at closing in Fort Lauderdale.
Source: Findlaw, “Problems When Closing on a House,” accessed April 26, 2018