What are the odds that a contract will result in a closing?


What are the odds that a contract will result in a closing?
By Scott Rogers • January 27, 2015
On average, six out of every seven contracts results in a closing. In some ways, that is great -- 87% seems like a pretty proportion of contracts to successfully close. However, it flipping it around, it isn't the most exciting news in the world to realize that one out of every seven contracts fails. Common reasons for a contract to fall apart include: inspection issues financing issues appraisal issues home sale contingency issues a buyer losing a job Whether you are buying or selling, we need to discuss and anticipate these possibilities ahead of time, and make sure we are structuring contract contingencies to best protect your interests. Of note, this analysis is not 100% precise. Technically, some of the 2014 closings are based on 2013 contracts, some of the 2013 closings are based on 2012 contracts, etc. That said, these differences usually balance themselves out from year to year. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 22, 2024 (unless otherwise noted).
Comments (0) or Subscribe