June 2016 Petit Home Team Newsletter
1. Petit Home Team NEWS
2. Top Reasons Why a Real Estate Closing Is Delayed
June 2016 Petit Home Team Newsletter
1. Petit Home Team NEWS
2. Top Reasons Why a Real Estate Closing Is Delayed
3. Just Listed/Sold properties
4. Happy Father's Day
1. Petit Home Team NEWS
Say hello to the 2016 Mooresville Red Sox softball team. We finished the season with an 8-2 record, coming in second place for the 8U division. There were 5 girls that returned from last years squad and the their softball skills have improved by leaps and bounds. Dad and I truly love getting to coach Madi and the other girls on this team. There is something special about this group of ballplayers!The playoffs have begun and we have high hopes for all the girls. Stay tuned for the end of year results!
2. Top Reasons Why A Real Estate Closing Is Delayed
Whether you’re currently buying or selling a home or you’re planning on buying or selling a home in the future, it’s important that you understand that there can be delays in a real estate closing. A real estate contract and the terms and conditions that are set forth in a contract do carry significant importance, however, they are not always concrete.
Unrealistic Contract Dates
Whether you’re a buyer or seller, it’s imperative that you have a top real estate agent representing your interests. One of the most common reasons why a real estate closing is delayed is because of unrealistic contract dates that were agreed upon in the purchase offer. An experienced real estate agent knows how to appropriately structure the dates in a purchase offer.
Generally speaking, it will take roughly 45-60 days for a real estate closing to occur after a purchase offer is accepted. This of course depends on the type of financing a buyer is using to purchase the home, the number of contingencies in the purchase offer, and many other variables.
Real Estate Appraisal Issues
When buying or selling real estate you need to understand that a large piece to a successful home sale is the bank appraisal. A bank appraisal is part of a real estate transaction anytime a buyer is obtaining a mortgage.
Problems with a bank appraisal are a very common reason why a real estate closing can be delayed. The reasons issues that arise from a bank appraisal can delay a closing can vary from a home that under appraises and the buyer and seller cannot come to new terms or because of repairs that are required by the appraiser.
Title Related Issues
Important reasons why it’s suggested both a buyer and seller hire an attorney is because they will help ensure “clean title” is being transferred.
It can be extremely frustrating for a buyer who is attempting to sell a home in the future only to find out there were previous liens against their home that were not discovered when they purchased the home. A home without clean title is virtually unsalable.
There are certain title related problems which actually arise frequently. Most of the common title related problems can be solved, but take significant time and will likely delay the closing or possibly cancelled.
Instrument Survey Related Issues
Another task that a real estate attorney will perform is a review of an instrument survey. An instrument survey in real estate can be defined simply as a drawing of the land a home is situated on. Real estate closings can be delayed in the event there is a discrepancy in the instrument survey.
One of the most common discrepancies in instrument surveys in real estate are boundary line encroachments or disputes. An example of a boundary line encroachment could include a neighbors fencing being on the property of the home that is being sold or vise versa.
Lender Requires Additional Documents
When a buyer receives their mortgage commitment, it means the funds have been approved and the closing can occur, right? In most cases it does mean the funds have been approved, however, there are times when a lender will require additional documents at the last minute.
Even if a buyer is pre-approved, then receives their mortgage commitment, and is cleared to close, lenders are going to at the very least review their credit and bank statements one final time within a few days of closing.
Reviewing the credit and bank statements are not the reason real estate closings are delayed but the additional documents a lender may require after reviewing them is a reason that closings are delayed.
Agreed Upon Repairs Are Not Completed
There are tons of reasons why home buyers have home inspections. The primary reason why home buyers have a home inspection is to ensure the home they are purchasing doesn’t have any major deficiencies that can cost tons of money in the future.
After a home inspection is completed, the buyer has the opportunity to request repairs be completed or some type of seller concession, in lieu of the repairs. If a seller agrees to make repairs, it’s important that these repairs are done once a buyer receives their mortgage commitment.
4. Happy Father's Day
1. Petit Home Team NEWS
Say hello to the 2016 Mooresville Red Sox softball team. We finished the season with an 8-2 record, coming in second place for the 8U division. There were 5 girls that returned from last years squad and the their softball skills have improved by leaps and bounds. Dad and I truly love getting to coach Madi and the other girls on this team. There is something special about this group of ballplayers!The playoffs have begun and we have high hopes for all the girls. Stay tuned for the end of year results!
2. Top Reasons Why A Real Estate Closing Is Delayed
Whether you’re currently buying or selling a home or you’re planning on buying or selling a home in the future, it’s important that you understand that there can be delays in a real estate closing. A real estate contract and the terms and conditions that are set forth in a contract do carry significant importance, however, they are not always concrete.
Unrealistic Contract Dates
Whether you’re a buyer or seller, it’s imperative that you have a top real estate agent representing your interests. One of the most common reasons why a real estate closing is delayed is because of unrealistic contract dates that were agreed upon in the purchase offer. An experienced real estate agent knows how to appropriately structure the dates in a purchase offer.
Generally speaking, it will take roughly 45-60 days for a real estate closing to occur after a purchase offer is accepted. This of course depends on the type of financing a buyer is using to purchase the home, the number of contingencies in the purchase offer, and many other variables.
Real Estate Appraisal Issues
When buying or selling real estate you need to understand that a large piece to a successful home sale is the bank appraisal. A bank appraisal is part of a real estate transaction anytime a buyer is obtaining a mortgage.
Problems with a bank appraisal are a very common reason why a real estate closing can be delayed. The reasons issues that arise from a bank appraisal can delay a closing can vary from a home that under appraises and the buyer and seller cannot come to new terms or because of repairs that are required by the appraiser.
Title Related Issues
Important reasons why it’s suggested both a buyer and seller hire an attorney is because they will help ensure “clean title” is being transferred.
It can be extremely frustrating for a buyer who is attempting to sell a home in the future only to find out there were previous liens against their home that were not discovered when they purchased the home. A home without clean title is virtually unsalable.
There are certain title related problems which actually arise frequently. Most of the common title related problems can be solved, but take significant time and will likely delay the closing or possibly cancelled.
Instrument Survey Related Issues
Another task that a real estate attorney will perform is a review of an instrument survey. An instrument survey in real estate can be defined simply as a drawing of the land a home is situated on. Real estate closings can be delayed in the event there is a discrepancy in the instrument survey.
One of the most common discrepancies in instrument surveys in real estate are boundary line encroachments or disputes. An example of a boundary line encroachment could include a neighbors fencing being on the property of the home that is being sold or vise versa.
Lender Requires Additional Documents
When a buyer receives their mortgage commitment, it means the funds have been approved and the closing can occur, right? In most cases it does mean the funds have been approved, however, there are times when a lender will require additional documents at the last minute.
Even if a buyer is pre-approved, then receives their mortgage commitment, and is cleared to close, lenders are going to at the very least review their credit and bank statements one final time within a few days of closing.
Reviewing the credit and bank statements are not the reason real estate closings are delayed but the additional documents a lender may require after reviewing them is a reason that closings are delayed.
Agreed Upon Repairs Are Not Completed
There are tons of reasons why home buyers have home inspections. The primary reason why home buyers have a home inspection is to ensure the home they are purchasing doesn’t have any major deficiencies that can cost tons of money in the future.
After a home inspection is completed, the buyer has the opportunity to request repairs be completed or some type of seller concession, in lieu of the repairs. If a seller agrees to make repairs, it’s important that these repairs are done once a buyer receives their mortgage commitment.
3. Just Listed/Sold properties
2010 University Heights Lane #1102, Charlotte NC 28213
$115,000
Sold in less then 1 month!
http://www.tourfactory.com/1553333
Spectacular townhouse unit for sale in University Heights! Great location off I485 and close to UNCC. Property features include 3 beds, 2.5 baths. Large master bedroom with walk in closet and dual sink vanity. Fresh paint in living rm, dining area and two story family room. Tall ceilings add extra windows to let the sunlight in. French doors in kitchen lead to back patio with small fenced yard, 1 car garage. Community has an awesome POOL!
102 Caribou Drive, Statesville NC 28625
$169,900
http://www.tourfactory.com/1566932
Very well maintained 3 bedroom brick ranch in quiet location. Beautiful laminate hardwood floors throughout the house and a fresh coat of paint. Bright and open kitchen flows to living room and dining area. Sliders to new back deck. Bedrooms are very spacious. Large corner lot sits on 0.5 acres with outbuilding for extra storage and two car garage.Call today!!
312 Minitree Lane, Charlotte NC 28214
$219,900
http://www.tourfactory.com/1570535
Spectacular home located in up and coming location in Cedar Mill!Easy access to I-485,Charlotte airport,and uptown Charlotte.Upgrades galore features gleaming hardwood floors,family rm w/stone fireplace,granite kitchen and eating area,distinct ceiling in formal dining rm.Open flow from Master Bed to bonus room.Slate stone in screened in porch.Backyard OASIS features stamped concrete patio area and hot tub.Neighborhood amenities include walking trails,decorative entrance,club house,pool,and gym.
776 Pinewood Circle, Mooresville NC 28115
SOLD
15416 Canmore Street #0, Charlotte NC 28277
SOLD
334 Minitree Lane, Charlotte NC 28214
SOLD
144 Malibu Road, Mooresville NC 28117
SOLD
4. Happy Father's Day
Father's Day in Charlotte has a lot to offer for the weekend. Take Dad to dinner, a Father's Day brunch or one of the many events going on in Charlotte for Father's Day 2016. Be sure to check out the local Charlotte North Carolina restaurant guide on www.704area.com to find the perfect place to take Dad to dinner for Father's Day weekend.
3. Just Listed/Sold properties
2010 University Heights Lane #1102, Charlotte NC 28213
$115,000
Sold in less then 1 month!
http://www.tourfactory.com/1553333
Spectacular townhouse unit for sale in University Heights! Great location off I485 and close to UNCC. Property features include 3 beds, 2.5 baths. Large master bedroom with walk in closet and dual sink vanity. Fresh paint in living rm, dining area and two story family room. Tall ceilings add extra windows to let the sunlight in. French doors in kitchen lead to back patio with small fenced yard, 1 car garage. Community has an awesome POOL!
102 Caribou Drive, Statesville NC 28625
$169,900
http://www.tourfactory.com/1566932
Very well maintained 3 bedroom brick ranch in quiet location. Beautiful laminate hardwood floors throughout the house and a fresh coat of paint. Bright and open kitchen flows to living room and dining area. Sliders to new back deck. Bedrooms are very spacious. Large corner lot sits on 0.5 acres with outbuilding for extra storage and two car garage.Call today!!
312 Minitree Lane, Charlotte NC 28214
$219,900
http://www.tourfactory.com/1570535
Spectacular home located in up and coming location in Cedar Mill!Easy access to I-485,Charlotte airport,and uptown Charlotte.Upgrades galore features gleaming hardwood floors,family rm w/stone fireplace,granite kitchen and eating area,distinct ceiling in formal dining rm.Open flow from Master Bed to bonus room.Slate stone in screened in porch.Backyard OASIS features stamped concrete patio area and hot tub.Neighborhood amenities include walking trails,decorative entrance,club house,pool,and gym.
776 Pinewood Circle, Mooresville NC 28115
SOLD
15416 Canmore Street #0, Charlotte NC 28277
SOLD
334 Minitree Lane, Charlotte NC 28214
SOLD
144 Malibu Road, Mooresville NC 28117
SOLD
4. Happy Father's Day
Father's Day in Charlotte has a lot to offer for the weekend. Take Dad to dinner, a Father's Day brunch or one of the many events going on in Charlotte for Father's Day 2016. Be sure to check out the local Charlotte North Carolina restaurant guide on www.704area.com to find the perfect place to take Dad to dinner for Father's Day weekend.
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