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Once a buyer and seller have agreed on the price for a house, they sign a purchase contract that outlines the terms of the deal and includes a closing date. Setting a specific date is intended to motivate all parties involved in the transaction to work expeditiously to fulfill their duties. Sometimes, however, things dont go according to plan and the closing is delayed.

Reasons Why the Closing May Be Delayed
A real estate deal may not be able to close on the anticipated date for a variety of reasons. Sometimes the buyer is unable to get approved for a mortgage. Even if the buyer was pre-approved, a recent increase in debt couldve made the persons debt-to-income ratio too high and caused the lender to rescind the mortgage offer or change the terms. The buyer may also be unable to get a mortgage because the house was appraised for less than the sale price. The home inspection also couldve uncovered serious problems that need to be fixed prior to closing, such as roof leaks or mold.

What Happens If You Cant Close on Time
The purchase agreement should specify whatll happen if the closing is delayed. If one party is clearly responsible for failing to meet the target date, that party will have to pay financial penalties. The contract may specify a variety of penalties for different scenarios. The penalties may be flat fees or may be calculated in other ways.

If the buyer is unable to close on time, he or she may be required to pay the sellers mortgage on a prorated basis until closing. If the seller is responsible for the delay, he or she may have to pay for the buyers unanticipated living costs until closing.

A lender may refuse to approve a mortgage for more than the appraised value of a house. If the house was appraised for less than the agreed-upon sale price, the parties may have to renegotiate the price.

If the closing is delayed because the inspector found serious problems, the parties will have to decide how to proceed. The seller may be willing to make repairs before closing. If the buyer cant wait to move in, the seller may be willing to lower the purchase price to account for the cost of repairs. If the problems are major, the buyer may decide to cancel the deal.

Discuss Potential Delays With Your Real Estate Agent
If you have any reason to think that you might miss your closing date, talk to your real estate agent. He or she might be able to help you find a solution or work with the other party to make modifications or concessions so you can proceed as close to schedule as possible.

Published with permission from RISMedia.

Here are four features every car enthusiast will appreciate in their garage.

Cooling & Heating

Keep yourself comfortable when doing work and never wait for the car to heat up or cool down before heading out.

Wash and Wax Area

If you love hand washing and waxing your cars, then youll want to have a designated station for doing so in your garage.

Hydraulic Lift

If youre going to be doing work on your vehicles undercarriage, you may want to consider installing a professional-grade hydraulic lift.

Kitchenette & Bathroom

Garage work can get messy and you probably dont want to run back into the house to use the bathroom or grab a snack.

Published with permission from RISMedia.

If you love to mix and match different styles, the eclectic look probably speaks to you. While its a fun way to create a unique environment in your home that reflects your personality, it can also be a challenge to avoid designing a space that feels chaotic. In order to successfully pull it off, here are a few tips to achieve an eclectic setting that maintains a sense of balance.

Look to the Pros
Before you get started, the best way to find inspiration is to do some research. You can easily find past projects from interior designers who are known for mastering the eclectic look, such as Muriel Brandolini and Martyn Lawrence Bullard. This will help identify what really speaks to you and start to form a foundation of your aesthetic.

Pick a Color Scheme
Eclectic rooms tend to have dramatic color schemes, but make sure the scheme is one that you can live with. Try to find a vibrant color combination that harmonizes to serve as the base, and once thats been decided, you can focus on adding more detail that plays off of the palette.

Dramatic Textures
Juxtaposing multiple textures is at the heart of this style and can often be a way of creating contrasts, like a plush, velvet sofa beside a shiny, metallic table. Being bold is a good thing, but its important to keep cohesion between the textures and colors in order to prevent the room from feeling overwhelming.

Introduce Layers
Throw pillows, area rugs and window treatments are the perfect way to accent the look with layers. Rather than creating more visual drama, these items should complement the room and allow the eye to fall on the focal points when someone enters.

Curate the Objects
Filling the room with a careful selection of objects will help to bring it all together. This is where you can get creative with putting antiques on display, arranging paintings in a whimsical manner, or curating a collection of trinkets. Think of it as the final step to creating a unique space that truly reflects your personality and tastes.

Published with permission from RISMedia.

Here are four classic chair styles that can work anywhere.

Adirondack Chairs

For over a century, this timeless chair has been found overlooking lakes, oceans and mountains all across the country.

Acapulco Chairs

For those who are going for a more modern style, nothing beats the iconic look of Acapulco chairs.

Egg Chairs

The egg chair is a mid-century modern classic that instantly makes any seating area Instagram-worthy.

Bistro Chairs

All it takes is two of these versatile chairs to create an intimate seating area by the pool, in the garden or on the deck.

Published with permission from RISMedia.

Published with permission from RISMedia.