Short Answer
If something goes wrong before closing, your course of action depends on the issue and your contract. Common problems include financing falling through, a low appraisal, inspection issues, or title problems. Your contract contingencies protect you in most situations, allowing you to negotiate, extend the timeline, or walk away with your earnest money. Your agent and attorney will guide you through resolving each issue.
Several things can go wrong between the offer acceptance and closing day. Here is how each is typically handled. Financing issues: If your loan is denied, your financing contingency allows you to cancel and get your earnest money back, provided you acted in good faith. If the appraisal comes in low, you can negotiate the price with the seller, pay the difference, or walk away if you have an appraisal contingency. Inspection issues: If the inspection reveals major problems, you can negotiate repairs or a price reduction. If you cannot reach an agreement, your inspection contingency allows you to walk away. Title issues: If the title search reveals a lien or other claim, the seller must resolve it before closing. This can delay closing but rarely kills the deal. Employment changes: If you lose your job or change jobs between offer and closing, it could affect your loan approval. Do not make any major financial changes during this period without talking to your lender. Throughout the process, stay in close communication with your agent and lender. Most problems can be resolved with good communication and a willingness to find creative solutions.
Bob's Advice
Redfin Senior Agent · AI Certified Agent
Problems before closing are stressful, but they are rarely deal-breakers. I have guided buyers through low appraisals, title issues, inspection surprises, and last-minute financing changes. The key is staying calm, communicating clearly, and focusing on solutions. Your contract was written to protect you. If something goes wrong, I will help you understand your options and advocate for the best outcome. If you are nervous about the closing process, let us talk through the potential risks and how we will handle them together.
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