When buying or selling a house, included in the contract is a close-of-escrow date. It may be based up a particular length of escrow (30 days, or 45 days, for example) or may be specified as a pre-determined date (June 15, 2016 for example). While this is the date on which both the buyer and seller can utilize in their planning, it is not uncommon for this date to shift, for a variety of reasons. Because of this, I often counsel my clients that the close-of-escrow date is not unlike the due date for a baby -- it's a best guess, but be prepared for it to change! The most common contributor to an escrow that extends past its due date is that loan docs are delayed -- either by additional underwriting requirements or mandatory waiting periods between events (issuance of loan docs and signing of loan docs, for example). Of course if a buyer and seller both agree that the date should be changed either backwards or forwards, in writing, then no problem. There's also the issue of fumigating for termites, if required, as you'll have to move out for a few days as well, usually just prior to closing.
Another wrinkle occurs when there is another house that needs to be sold to procure your new house, and/or the house in which you're buying is not vacant prior to your purchase. A minor delay in either transaction also impacts the sale of your home. So your movers, house cleaners, packers, and the like need have to have some flexibility built into their schedules such that moves can be made efficiently and smoothly.
It's also not uncommon for home buyers and sellers to "have to" move on a particular date or the sky will fall. But when an issue then crops up on their end (for example their loan docs are late), miraculously they find a solution! Often, buyers want to move some of their belongings into their new home either prior to close and/or after closing but prior to their contractual date of possession (often 3 days after close of escrow). Never a good idea! Whose insurance covers those belongings, and what about the person moving out of the property -- their life is generally in a state of mild chaos as well, and the added stress of others moving items around them generally isn't good for anyone involved -- that's why mini-storage exists! Rent a unit for a month, and use it as a buffer in the event of delays in your closing date. Or rent a pod and see if you can negotiate having it delivered to the driveway (as long as it doesn't block access) of the new house after closing --but before you're allowed possession -- that seems like a reasonable compromise and you won't have to move twice! Be prepared to stay in a hotel for a few days if necessary as well -- preferably one with a spa so that you can relax a little during this hectic time!
Another wrinkle occurs when there is another house that needs to be sold to procure your new house, and/or the house in which you're buying is not vacant prior to your purchase. A minor delay in either transaction also impacts the sale of your home. So your movers, house cleaners, packers, and the like need have to have some flexibility built into their schedules such that moves can be made efficiently and smoothly.
It's also not uncommon for home buyers and sellers to "have to" move on a particular date or the sky will fall. But when an issue then crops up on their end (for example their loan docs are late), miraculously they find a solution! Often, buyers want to move some of their belongings into their new home either prior to close and/or after closing but prior to their contractual date of possession (often 3 days after close of escrow). Never a good idea! Whose insurance covers those belongings, and what about the person moving out of the property -- their life is generally in a state of mild chaos as well, and the added stress of others moving items around them generally isn't good for anyone involved -- that's why mini-storage exists! Rent a unit for a month, and use it as a buffer in the event of delays in your closing date. Or rent a pod and see if you can negotiate having it delivered to the driveway (as long as it doesn't block access) of the new house after closing --but before you're allowed possession -- that seems like a reasonable compromise and you won't have to move twice! Be prepared to stay in a hotel for a few days if necessary as well -- preferably one with a spa so that you can relax a little during this hectic time!
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