75 Types if Turbulence in a Real Estate Transaction or Morgage Loan

The Lender:

1. Lender does not properly pre-qualify borrower.
2. Lender decides last minute they aren't comfortable with the property.
3. Lender wants property repaired or cleaned prior to close.
4. Lender raises rates, points, or costs.
5. Borrower does not qualify because of a late addition of information.
6. Lender requires at last minute, a re-appraisal.
7. The lender does not simultaneously ask for information from the buyer, they ask for it in bits and pieces.
8. Lender pulls a "bait & switch" on the buyer.
9. The Lender does not clear underwriting conditions timely.
10. Lender does not communicate with all parties.
11. The borrower does not like the fine print n the loan documents that are received 3 days before the scheduled closing.
12. Lender loses a form or misplaces the entire file.

The Buyer:

1. Did not tell the truth on the loan application.
2. Did not give thorough information on loan application.
3. Did not give thorough information to their agent.
4. Submits incorrect tax returns to lender.
5. Is not fully committed to the transaction.
6. Source of down payment changes.
7. Family members do not like the purchase.
8. Is too demanding regarding condition.
9. Finds another property that is a better deal.
10. Instead of following through with the transaction, is always negotiating.
11. The buyers bring an attorney into the picture.
12. They do not execute paperwork in a timely manner.
13. They do not deliver their money in a "check cleared" fashion to the closing agent. (i.e. cashiers check).
14. Job changes, illness, divorce, or other financial setbacks.
15. Comes up short on money.
16. Does not obtain insurance in a timely manner.
17. Incurred new debt.

The Escrow & Title Company:

1. Fails to notify agents unsigned or unreturned documents so that the agents can cure the problems relating to the same.
2. Fails to obtain information from beneficiaries, lien holders, and title companies, insurance companies or lenders in a timely manner.
3. Lets principles leave town without getting all necessary signatures.
4. Incorrect at interpreting or assuming aspects of the transaction and then passing these items.
5. Lose paperwork.
6. Incorrectly prepares paper work.
7. Does not pass on valuable information fast enough.
8. Does not coordinate well so that many items can be done simultaneously.
9. Does not find liens or problems until the last minute.
10. Poor service.
11. Does not bend rules on small problems.

The Seller:

1. Loses motivation (i.e. job transfer does not go through, etc.)
2. Illness, Divorce, etc.
3. Home has hidden defects that are subsequently discovered.
4. Unknown defects discovered.
5. Home inspection reveals average amount of small defects that seller is unwilling to repair.
6. Removes property from the premises that the buyer believed was included.
7. Is unable to clear up problems or liens.
8. Last minute solvable liens are discovered.
9. Seller did not own 100% of property as previously disclosed.
10. Seller thought partner's signatures were "no problem" but they were.
11. Seller leaves town without giving any power of attorney.
12. The notary did not make a clear stamp when notarizing the seller's signature.
13. Seller delays the projected move out date.
14. Inappropriate contact between buyer and seller.