Philadelphia, Bucks and Montgomery Counties Real Estate. Tips for home buyers, home sellers by Gita Bantwal,Realtor at Re/Max Centre Realtors.

Ten things that can cause a delay at settlement.

Settlement day is the day buyers and sellers look forward to. My clients often ask how long it will take at settlement table.

The answer is ;  in a perfect world it takes about 30 to 45 minutes  in our area. I usually ask the buyers to come first as they have to sign many more papers than the sellers. Sometimes it may take several hours or all day or may be postponed to another day.

From my experience in real estate I have made a list  of  ten things ( not in any particular order ) that can cause delay.

1. Buyers forget to get home insurance. We have to look for a company that will insure the property. I keep on reminding buyers to get insurance so I have not had this problem.

2.Buyers or sellers forget to bring picture ID or in case of immigrants-  their green card. I give buyers a check list and call them the previous day to remind them.

3.The funds are not wired in time.This is a problem when the bank is on the west coast and we have a morning settlement. I call the loan officer the previous day and try but things are not in their control.

4.Seller did not take care of repairs as agreed after inspections or appraisal. I call the listing agent and ask for receipts in advance. If I am the listing agent I remind the sellers and follow up till it is done.

5. Buyers or sellers do not agree with the HUD 1 . This is the most common problem.I usually try to get a preliminary HUD 1 the day before settlement , and go over it with my clients. Sometimes we do not receive it the previous day.

6.Buyers do not come with enough in Certified funds. I always request them to bring a check book , in case there is something we overlooked.

7. Sometimes there is a delay if we have to call in a final water reading or call the Home Owner's association for charges.The seller may have paid the dues but the resale certificate may not account for it.

8.In rare cases one of the sellers may not show up . you would need legal help in such instances.

9.Mortgage papers may not be ready .

10. There may be a new problem with the house . This can be a big problem. The buyer may want estimates to fix it. or may want to postpone settlement till it is fixed. I once had a water heater leaking on settlement day. The seller had home warranty, and even agreed to escrow funds for replacement  but buyers refused to settle till it was replaced. American Home Shield could not send anyone till later and settlement took place the following day.

When you read about events please check the year for the event as some people find information a year later and think it is for that year. . The posts remain online even after the event.

Gita Bantwal is a Realtor with RE/MAX Centre Realtors in Bucks County, a Northern suburb of Philadelphia. You can view 1000s of listings on her web site


She can be reached at 215-343-8200x124 or direct 215-275-8491 or via email


 Gita specializes in Active adult communities and is a Seniors Real Estate Specialist. She holds the ABR designation (Accredited Buyers Representative) and specializes in selling to first time buyers as well as move up buyers.Gita also hold the CRS designation , Certified Residential Specialist and the CDPE designation as well. Information about real estate market is deemed to be correct but is subject to errors and omissions and should be verified independently.. Opinion expressed by me or others  in my post and comments is not to be construed to be  legal advice.I am licensed in Pa. Check real estate laws in your state as they may be different than in Pa.



Comment balloon 0 commentsGita Bantwal • November 18 2007 01:50PM
Ten things that can cause a delay at settlement.
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