It’s Moving Time!!!
So it’s Moving Time. YAY!!! Well, not so fast there, Bud. If you are seasoned Buyers and Sellers, it’s still stressful, but if you’ve been in your home for more than 5 years or are a “shopper” and an “accumulator of items,” it becomes a major event and can be incredibly emotional. I’ve seen couples who are normally very loving toward each other and have great relationships literally are sleeping in separate bedrooms by the end of the home search and move. This is convoluted if there are children involved, who have busy schedules, both parents work; either or both party have control issues, OCD, ADD, or any other normal (yes, in our society today, acceptance of our own quirkiness, is normal, LOL) preferences in the way that they like things done. And everything they own has to go into boxes; get onto a truck, and into the new home. Whether it is across town or across the country. The most influencing factor toward the emotion of moving is TIMING.
Now, this is where it gets tricky. And it all starts with the first day you begin your home search. Now, let me segway here. A few questions: Are you a renter? When does your lease expire? Do you have to pay the full term of the lease to get out of it or just a month or two? If you own your home, have you sold it yet? Is it even listed? Is it listed to sell or just listed? (That’s a whole other article in itself.) Are you going to find your “perfect house” then list your house? Hmmm, not in this market where we are seeing multiple offers and higher than list prices and houses going under contract in days. Sellers rarely will consider taking a contingency on you selling your house, so you’ll have to qualify for both houses. Yep. Lots to consider.
So, back to the actual move. Once the house is under contract, the Mortgage officer starts the process. Depending on the Mortgage Company, type of loan, AND the loan officer’s abilities and knowledge, the loan company’s process, the loan process can take anywhere from 7 days to 60 days. It’s the few days before closing that gets reallllly hairy…..this is where working with a skilled moving company, who accommodates clients and understands how the closing attorneys work with the loan officers, with the exchange of keys IS critical to your emotional state of mind in getting your home and personal items situated in a calm, cool and collected fashion. Ooohhh, now you just have to breatheeee.
In today’s time, there are MANY factors that can delay closings. Underwriting conditions and stipulations can be wicked. At the very last minute they can call for a whole host of things from the buyer. This is often beyond the Mortgage Officer’s control. We often run into last minute inspection items haven’t been performed by the seller; therefore, the buyer will not allow funding; or it could be a condition of the appraiser who has to re-inspect the condition. And they are running 2 days behind!!! What if the Buyer’s Agent didn’t get the termite letter? Oh My! AND your belongings are on a truck! And you have taken 2 days of vacation to move? EGADDSS!!! KNOW THIS: JUST BECAUSE YOU HAVE SIGNED PAPERWORK AND CLOSED, UNTIL ALL PARTIES HAVE FUNDED THE LOANS, KEYS WILL NOT BE RELEASED! If Underwriting of your mortgage is requiring conditions to be met, YOUR belongings are not allowed in the house, until these conditions are met.