There are all kinds of recent reports and metrics that have been bad news for the housing market. It makes having an efficient and speedy closing team on your side even more important for when you are able to close on a transaction in tougher times for sales.
Existing home sales were at a three-year low in September and there are a variety of factors playing a part from the new tax law reducing incentives for owning a home to rising mortgage rates and a lack of inventory in some markets. Another problem is that while unemployment is at lows not seen in decades, many workers are not earning wages that give them the confidence that they will be able to afford a home now and in the future.
It’s in times like these that losing a sale can be especially painful because your title company overlooked something or moved too slowly or maybe your real estate agent failed to make sure everything was complete before the final walk-through.
It’s always a good idea for individuals involved in real estate transactions to hire a real estate attorney to help protect them through the process and even after a sale is completed. Being thorough and prepared is a necessity in real estate settlement regardless of whether sales are surging or dipping. But when properties are moving off the market more slowly, it’s that’s much more important to have a team you can trust to get things right so that you’re not contributing to a slower sale or even a failed deal.