One of the most commonly asked questions when buying a new home is, “when can we move in?” Buying and selling homes is an exciting process that, unfortunately, moves more at PGA speed then Indy Car. To even get to the part where the question can be asked, when can we move in, there are a lot of moving parts that need to be put in order. Here is what can delay the move in.

It’s All About The Loan

When can we move in is all based on what type of loan is being used for the home buying process. Even after pre-approval, finding a home, and making an offer, there are still a lot of steps that the lender needs to take in order to agree to the sale. A lot can affect the decision of final approval from the lender. Number one being the market value of the home. Whatever numbers were decided on between the buyer and seller, the home needs to be able to support the money being borrowed.

Who is liening in?

Using a play on words, a lien is when someone has a claim to a property when a debt has occurred. During the closing process on a property, a title search needs to be conducted. Depending on the findings during this search, it can delay the approval and the move in. There may be a lien on the property from a past homeowner or contractor. The title search process may seem to be a burden at first but it can protect the most current buyer from unwanted and unexpected debt.

Contingencies Arise

Another delay in the, when can we move in process, could just be contingencies themselves. Buying and selling homes is a balancing act between multiple parties of people. The buying of one home can be contingent on the selling of another home. There are also other contingencies that can be written into conditions. These conditions, not only by the lender need to be met but also by the buyer and seller. An example of this could be damage happening to the property during the closing process.

When Can We Move In?

After waiting and crossing through many hurdles the when can we move in is answered! It is not an actual number but when all the processes have been completed. Reality TV shows boast that cash deals can close in 7 days while the national average is 47. It all really depends on when all the paperwork can be completed. It may seem like it takes forever but remember the process of buying and selling a home is meant to benefit all parties involved.