You wake one morning, look out your window, and think; “Gosh, I want to buy my own home.” So you head over to Zillow and start to swipe and swipe and suddenly it’s there! You’ve found it. You call an agent and get right inside that morning and of course it’s everything you ever wanted. Luckily you brought your wallet and after a quick bite you call the agent to submit an offer. There’s a bit of back and forth and perhaps a tiny bit of intrigue. Low and behold your offer is accepted and magically, some time passes, and you’re settled in your new home. Heaven.

Unfortunately the reality of the situation is nothing like a TV show. Television has a way of bringing fantasy to life. Often expectations are disappointments to the facts of the work and energy necessary to purchase that dream property, but nothing is impossible. The truth is that few things in life are easily achieved. You’ll need a sizeable down payment with a bit more for cushion. Rainy days happen so be prepared. You’ll also need trustworthy players to help guide you along the road. A road that can be full of twists and turns.

No matter how much work has gone into your purchase, the whole thing can crumble if the lender isn’t secure in repayment of the loan. This can even occur just before closing for a myriad of reasons. The lending process takes time, and during this time, your credit score can change. Your debt-to-income ratio can go from one extreme to another. Be conscientious of every major purchase, every credit balance, every household bill, and even if your schedule changes at work. Things that affect your credit score include new purchases, new credit inquiries, new credit or collections accounts, and even fraud protection programs. Things that affect your debt-to-income ratio are monthly household bills, utility increases, decreases in work hours, unemployment, and even new employment.

It isn’t just the lender who can back out. You and the seller may have come to terms, but those terms can change for many reasons. A big one is if the appraisal comes back lower than the agreed price. Although a lender relies on an appraisal to determine value, the appraisal is performed by a third party. Usually the buyer and seller come to terms, but it takes negotiation.

The seller could back out involuntary if they cannot legally transfer clear title to the home. For instance, if there is a large lien against the property or if they don’t hold complete legal ownership and cannot sell. If the seller can’t “cure” the defects the closing will not proceed.

Furniture is often left behind, damage is sometimes discovered, even weather can play a role in derailing the process. Often these issues are minor and can be mitigated through your Realtor, but it’s not likely to experience these issues from the HGTV® vantagepoint. The process of renegotiation, speaking with the players, and just generally holding the game together to closing is a reality that few know how to navigate. While buyers and sellers look to the finish line, the Realtor works the checkpoints along the way, making sure everything goes according to plan. When it doesn’t, they have the experience to navigate the process and close. Thus the dream is achieved and you can enjoy that new home for many years to come.