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Selling Your Home - What Can Go Wrong With Title and Lenders
If you're selling your home, there are going to be difficulties at some point in the transaction. Some problems can't be fixed. It's important to figure out whether yours are fixable or not. Then you can either fix them or move on and find another buyer. If it's priced appropriately, there's a buyer out there for virtually every property. Title Problems You get a call from the person searching the title to your property saying your first cousin once removed is shown as having a ten percent interest in the property. I hope you (and not just your lender) have title insurance. If you don't, perhaps your cousin will sign a "quit claim deed" (or whatever similar term your jurisdiction uses) if her father was paid for his interest long ago, but nothing was recorded to that effect with the land records. If that doesn't work, perhaps your cousin will agree to join in the sale and receive ten percent of the proceeds. Failing that, you're probably looking at a court proceeding. The sale will fall apart, and you'll have to start all over again once the problem of legal ownership has been resolved. Bummer. Before you put a property on the market, make sure your title is clear. Lender Objections Lenders can really punch holes in a home sale. Let's look at a few examples. Example One The lender calls and says your garden shed is encroaching on your neighbor's property, while their fence is on yours. The lender won't fund the buyer's loan until everything is moved to where it belongs. Typically, the lender isn't going to back down. What are your options? If you get along with your neighbor and can do the work yourself (or can afford to have it done), the problem can be quickly cured. I once saw a very creative resolution to this problem. The shed was on a utility right-of-way. The seller got the county to write a letter to the lender saying that if a shed weren't on a poured foundation (it wasn't) and could be moved on notice, then it wasn't considered an encroachment until/unless such a notice was sent. Example Two The lender says your property will appraise for the amount needed for the loan so long as the following repairs are made. The list of repairs upsets you. Time to take a deep breath and think. How can you get them taken care of before settlement? Can you do them? Have them done? Would the buyer be willing to help out? Is this a deal to walk away from? Regardless of the answer, the key is to make a logical decision not an emotional one. Example Three The lender's appraiser comes in with an appraisal that is below your agreed sales price. The lender is willing to lend based on the appraisal, not the previously agreed price. There are several options for fixing this problem. 1. You can reduce your price to the appraisal price. 2. If the buyer wants your property enough and has enough money, he can pay a larger down payment and leave the purchase price the same. 3. The two of you can split the difference; you come down some, and he increases his down payment some. 4. Or, sadly, the deal can fall apart over this issue. The real key to successfully dealing with problems is to stay calm, open minded, flexible, bottom line oriented, and think win/win. Most of the problems that occur do have solutions. We just need to look for them persistently. Raynor James is with http://www.fsboamerica.org - providing homes for sale by owner, "FSBO", properties. Are you thinking, "Should I sell my home?" Visit http://www.fsboamerica.org/seller.cfm to sell your home sale for free for one month.
MORE RESOURCES: These are the best and worst cities for first-time homebuyers in New England and beyond, new study says The Boston Globe Blackstone's Wesley LePatner, a mentor to women and real estate investing leader, killed in NYC office shooting Business Insider The real estate market: 5 key themes to watch this week Real Estate News by RealEstateNews.com Real estate: Home prices climb in Martin, Indian River counties; fall in St. Lucie County Treasure Coast News Troy Furbay has been appointed Managing Director, Hospitality at Crescent Real Estate LLC Hospitality Net ‘Walking beside him’: Daughter continues stepfather’s real estate dream Mountain Home Observer Richland County property transfers recorded July 21-24 Mansfield News Journal I-78/I-81 Corridor commercial real estate activity picking up Lehigh Valley Business Double digit price increases for Putnam real estate Mid Hudson News Real Estate Expert Jody Wainio of Buyers Choice Realty Shares Advice on Mortgage Pre-Approvals in HelloNation GlobeNewswire Real estate: Condo prices rise in Indian River County; fall in Martin, St. Lucie counties Treasure Coast News Alex MacWilliam of Alex MacWilliam Real Estate in Vero GlobeNewswire RE/MAX revenue continues to slip despite agent gains Real Estate News by RealEstateNews.com Haag-Brown Commercial Real Estate to open Bentonville office Talk Business & Politics Inside Zillow’s summer launch: 5 new tools built for agents - Real Estate News by RealEstateNews.com Inside Zillow’s summer launch: 5 new tools built for agents Real Estate News by RealEstateNews.com US industrial real estate investor Terreno sells $82m portfolio IPE Real Assets Executive Killed in Manhattan Shooting Was CEO of Blackstone's $53 Billion Real Estate Megafund Realtor.com Real estate transfers: 7/30 Toledo Blade Leading Arizona Real Estate Team JBRE Joins Real Brokerage, Bringing $310M Sales Portfolio Stock Titan Real Estate Transactions | July 14-18, 2025 Republic-Times Real estate office renovating former daycare The News-Enterprise Atlanta real estate tycoon Tom Cousins has died at 93 Rough Draft Atlanta Exclusive: Apple to buy another Silicon Valley campus for $365 million San Francisco Chronicle News | UK commercial real estate investment slips slightly to £10 billion in second quarter - CoStar Inside Hulk Hogan’s $11M Real Estate Empire EntertainmentNow Ledge Road property in Newport sold for $3.3 million tops latest Newport County sales Newport Daily News Real Estate Giant Anywhere Gives 100,000+ Agents Free Access to Canva Enterprise AI Marketing Platform Stock Titan Christie’s Debuts Crypto Real Estate Division The New York Times Los Angeles Area Wildfires Destroyed Nearly $52 Billion in Homes Last January The World Property Journal Real estate trends highlighted Morrow County Sentinel Asia Pacific commercial real estate investment surges to $31.2b in second quarter 2025 Institutional Real Estate, Inc. Luxury Presence Debuts the First Fully Autonomous AI Marketing Team for Real Estate Agents Business Wire Santa Monica Ranks Second Most Expensive for Rentals as Real Estate Market Shows Mixed Signals Santa Monica Daily Press Easton home on Sierra Drive that sold for over $1M 'epitomizes one-of-a-kind luxury' Enterprise News Population Growth in England and Wales: A Boon for Real Estate and Social Infrastructure Sectors AInvest Hamptons Real Estate Market Data – Week of 7/22/2025 Hamptons.com Boardwalk Real Estate: Q2 Earnings Snapshot San Antonio Express-News RealPage buys Rexera, maker of 'AI agents' for real estate deals The Business Journals Blackstone’s LePatner killed in NYC shooting Private Equity Real Estate | PERE Judge sides with LGBTQ+ Alliance in battle with ex-CEO Real Estate News by RealEstateNews.com Apollo Commercial Real Estate Finance, Inc. Reports Second Quarter 2025 Financial Results Quiver Quantitative One of the world’s largest luxury real estate firms wants to help you buy a house — with crypto New York Post Commercial Real Estate Still Has a Software Problem Commercial Observer The Future of AI in Real Estate Valuations: Understanding Tomorrow’s Appraisal Standards Appraisal Buzz WeWork Wants You to Know It’s a Grown-Up Real-Estate Firm Now The Wall Street Journal 18 months later, Blackstone still sees real estate comeback ahead Private Equity Real Estate | PERE |
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