Timing Your Move With Your Closing Date

Timing your Lake Charles move to coincide with the closing date of your home can be a challenge.

Many times Lake Charles buyers and sellers are relocating to another home. Once a house goes “under contract” buyers and sellers anxiously await their closing date.

Sellers need to be prepared to hand over the keys at closing, Buyers take possession of the home at the closing. Having said that when a Seller moves out of their current Lake Charles home where do they go if they cannot close on their new home? Many times in order for a Seller to close on their new home, the bank will need to see the HUD statement from the sale of their home in order to obtain a new mortgage. This is why Realtors and Loan Officers try to schedule closings as close together as possible and sometimes back to back on the same day.

Unforeseen conditions can arise that affect closings. Buyers and Sellers should always have a back
up plan just in case they are not able to close on a specific day, sometimes extensions to the real estate contract are needed.
Most buyers and sellers have to arrange for help with moving and coordinate the date around their work schedule. What happens if they are all set to go and have scheduled a day off of work and then the closing does not take place due to last minute loan delays? This can be stressful, so to alleviate the tension, sellers need to be prepared to have a place to go whether it is with family, friends or staying in a hotel for 1-2 days.

My advice to buyers and sellers is “yes” they can go ahead and begin to box items and prepare for their move. However I never tell my clients to completely empty the house until we are sure that the loan officer has a “clear to close”. You may need an extra day to close so you will need to spend the night in the house! I understand moving is stressful, however being patient and prepared with an alternate plan is better than being totally caught off guard. Don’t be upset with your Realtor or loan officer if your closing doesn’t occur exactly on the date of contract, we are all working together to make this happen as soon as possible. The loan package has to clear underwriting and be sent to the title company before a closing can be scheduled. In this day and time delays do occur so be smart and save yourself the headache by timing your move when you are sure the loan package has been sent to the title company on a specific close date!

Leave a reply