Everyone wants to Avoid Problems with their Real Estate transaction!

Here is a somewhat humorous list of 111 different types of potential problems we might run into during your home buying or selling experience. This list is not all encompassing -  but it catches most of the common issues that might arise. While some of the items are trivial to some, they are very real and fearful to others.

Please take a few minutes to review the list.

As your New Nest Locator, it's my responsibility to help us avoid as many of these potential problems as possible. This is a team effort and if we work together - we can minimize the possible stress.  However - we can't control everything.  I can’t promise you that the other parties involved in the transaction won’t create havoc, but I can promise you that I will utilize my experience and expertise as well as that of my well-trained team to take you on the smoothest experience possible. And if we do run into problems - we have a whole team of experts to help us get back on course. 

It is my pleasure and my primary role to take care of you and your needs as my client.  Together we can hopefully make this a great experience.

(List compliment of Leah Goldstein)


The Buyer/Borrower

1. Does not tell the truth to their agent.

 2. Does not tell the truth on the loan application.

3. Submits incorrect information to their lender.

4. Has recent late payments on credit report.

5. Debt status changes after loan application.

6. Borrower loses job.

7. Co-borrower loses job.

8. Income verification process shows facts different than loan application.

9. Source of down payment goes away.

10. Overtime or other income source is disallowed by underwriter.

11. Does some “recreational car shopping” during loan process period.

12. Illness, injury, divorce or other financial setback during escrow.

13. Loses motivation.

14. Gift donor changes mind.

15. Cannot locate divorce decree.

16. Cannot locate petition or discharge of bankruptcy.

17. Forgets to mention bankruptcy.

18. Cannot locate tax returns.

19. Cannot locate bank statement.

20. Interest rates increase and borrower can no longer qualify.

21. Loan officer lies about borrower’s ability to qualify.

22. Child support not disclosed on loan application.

23. Is a foreign national.

24. Loan program changes with higher rates, points and fees.

25. Mortgage payment is double the previous housing payment – buyer faints.

26. Borrower/Co-borrower cannot prove two-year employment history.

27. Brings in handwritten pay stubs.

28. Just before closing, switches to job requiring probation period.

29. Switches from salaried job to 100% commission income.

30. Borrower/co-borrower dies.

31. Family members or friends don’t like the home the buyer chooses.

32. Is too picky about property in price range they can afford.

33. Feels the house is misrepresented.

34. Veteran’s DD214 form is not available.

35. Spends money earmarked for the closing table.

36. Does not have paper trail for gift or loan money.

37. Buyer’s contingent sale does not close or is delayed.

38. Does not bring cashier’s check to closing – expects to pay with post-dated personal check.

39. Finds another property that is a better “deal.”


The Seller

40. Loses motivation to sell (transfer falls out, reconciles marriage).

41. Gets sick, divorced, dies (yes, dies!)

42. Cannot find suitable replacement property.

43. Will not allow appraiser inside home.

44. Will not allow inspector inside home – or fails to remove dog at appropriate time.

45. Unwilling to repair major defects revealed in buyer’s inspection.

46. Removes property shown in contract to be included in sale.

47. Can’t clear liens that appear unexpectedly on property.

48. Does not own 100% of property as previously disclosed.

49. Thought getting partner’s (or ex-partner’s) signatures were “no problem” – wrong!

50. Leaves town without arranging Power of Attorney.

51. Does not move out by the agreed-to date.

52. Does not complete agreed-to repairs.

53. Home goes into foreclosure during escrow (contract pending period).

54. Misrepresents information about home or neighborhood.

55. Fails to disclose hidden defects that are found in the inspection process.

56. Builder fails to complete home on time.

57. Builder’s costs are higher than expected and contracted price cannot be honored.

58. New home does not pass final inspections.

59. Does not show up to close.

60. Seller finds himself in Jail.


The Other Realtor

61. Will not return phone calls – is generally unresponsive.

62. Fails to arrange access to property for inspections and appraisal.

63. Does not pre-qualify buyer prior to preparing offer.

64. Does not complete contracts and other legal documents correctly.

65. Is inexperienced with no guidance.

66. Leaves for vacation with no back-up or contact person to cover.

67. Jerks around other parties in the transaction – has huge ego.

68. In general – doesn’t have a clue!


The Lender

69. Will not return phone calls – is generally unresponsive.

70. Does not properly pre-qualify the borrower.

71. Changes status from “preapproved” to “oops, not approved” during escrow period.

72. Lender-required repairs surface the day before closing.

73. Misquotes rates, points or costs.

74. Fails to lock rate as requested by borrower and rates rise unexpectedly.

75. Loses file or selected documents in file.

76. Fails to get required information from borrower.

77. Pulls a “bait & switch” on borrower.

78. Loses investor and does not have the money to fund the loan.

79. Fails to order title work on a timely basis.

80. Includes undisclosed terms and conditions discovered by borrower at closing table.


The Title Company

81. Will not return phone calls – is generally unresponsive.

82. Fails to notify lender/agents of unsigned documents.

83. Fails to collect needed data on a timely basis.

84. Fails to get signatures from traveling principals.

85. Loses paperwork.

86. Fails to pass on pertinent information on a timely basis.

87. Prepares final documents incorrectly.

88. Fails to find title problems until the last minute.

89. Fails to notify principals of timing problems until the last minute.





The Appraiser

90. Is not local and doesn’t know the area.

91. Is inexperienced in older/newer properties.

92. Is too busy to complete appraisal on time.

93. No comparable sales are available.

94. Appraised value comes in below contract price.

95. Second or “review” appraisal is required by lender.




The Inspectors

96. Frightens buyer.

97. Infuriates seller.

98. Not available when needed.

99. Does not show up when scheduled.

100. Is unfamiliar with property type.

101. Makes mistakes – report is unreadable.

102. Tells buyer one thing – records something different on report.




The Property

103. County will not approve septic system or well.

104. Termite report reveals active termites and/or termite damage.

105. Was misrepresented as to size and condition.

106. Is destroyed or damaged prior to closing.

107. Is not structurally sound.

108. Roof is passed by inspector but rejected by insurance company.

109. Has undisclosed defects that surface during the repair process.

110. Portion of home sits on neighbor’s property.

111. Completed repairs are unacceptable to buyer.