5 Common Escrow Delays and How to Avoid Them

Even the smoothest transactions can hit a snag. Here are five common reasons for escrow delays: 1) Appraisal Issues: The property appraises for less than the sale price. 2) Loan Funding Problems: The buyer's final loan approval is delayed. 3) Title Issues: A cloud on the title, like a lien or undiscovered heir, is found. 4) Repair Disputes: Disagreements over repairs agreed upon after the inspection. 5) Document Errors: Missing signatures or incorrect information on closing documents.

To avoid these, buyers should get fully pre-approved for their loan, not just pre-qualified. Sellers should clear up any known title issues early. Both parties should respond promptly to all requests from their agent, lender, and escrow officer. Proactive communication is the single best tool to ensure an on-time closing.