13.2. What If the Closing Gets Delayed?

Robert Burns, the Scottish poet who commented that "the best laid schemes of mice and men" often go wrong, could have been a real estate agent. No matter how carefully you plan, things can happen that delay—or even prevent—a closing. Problems may arise, for example, if the mortgage underwriter (Section 7.2.2) requires clarification of or extra documentation for something in your loan application. It can take time to gather the information, submit it to the underwriter, and wait for a response. Delays like this can be harrowing. Submit the requested information and try not to get too nervous. Remember that, even though lenders want to close files as efficiently and quickly as circumstances allow, delays do happen.

Your mortgage broker or loan officer can give you the reason for a delay, but here are some common causes: