Closing can be one of the most stressful times during the homebuying process. A typical closing can last 30-45 days, but it’s also a time when things can go wrong, and the expected move-in date can be delayed. While this might not be such a big issue for a family who is moving across town and has family they can crash with in the meantime, it is a huge deal for a military family. A closing that is delayed even just a day can have a huge ripple effect for a military family.
Many military families will try and set up what is called a door-to-door move (to the best of their ability). This is where their household goods are packed and loaded onto a truck, and that truck drives directly from the old home to the new home to deliver their belongings. When a family is purchasing a home, this is the type of move they are trying to have to make that transition as smooth as possible.
So, what happens when a closing is delayed? For a military family it means everything comes to a screeching halt. The truck that was following that family down the road now must detour to a moving warehouse so the shipment can be stored. The big deal about this is that when the closing does take place, it can be anywhere from one to six weeks for the family to get their household goods depending on location and time of year. That means when the family does take ownership of the home, they will now only be with whatever items they brought with them for up to another month.
Not only is the delay in receiving their shipment a problem, but it’s an added expense that the family was not counting on. Instead of arriving to their home as planned, they now have to find temporary lodging and depending on how long, it may not be an expense that will be reimbursed. Once they do get the keys to the home, since their shipment is in storage there will be some necessity items they will need to purchase – cookware, dishes or paper products, air mattresses, towels, and more to make do – that will not be reimbursed to them.
An even bigger concern outside of the financial burden that a delayed closing brings, is the transition of our children. It could mean that they are starting school without their bed and only with the clothes from their suitcase. That same child who is trying to make new friends may feel embarrassed or left out because they don’t have their bike yet, and their toys are still in a box sitting in a warehouse. It could cause trouble sleeping at night without their familiar stuffed animals around them, in their empty room. As a parent we do what we can to make the transitions smooth, but a delayed closing throws a wrench even into the best made plans.
Closing on time is a big deal for military families. Without the familiarization of the area and having family nearby to pick up the shortfalls, every move is a stressful and emotional time. The ability to close on time goes a long way for helping the family make their transition into the new community. If there is ever any inkling that a closing may be delayed for any reason, notifying the family right away so they can make the arrangements needed can be a very appreciated call. No news gets better with time, and that family wants the opportunity to make the process as smooth as possible.
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Caliber Home Loans, Inc. is a mortgage servicer registered with the Superintendent of the New York Department of Financial Services. If you are a customer whose property is located in the state of New York, you may file a complaint and obtain further information about Caliber Home Loans by contacting the New York State Department of Financial Services Consumer Assistance Unit at 1-800-342-3736 or by visiting the Department's website at www.dfs.ny.gov.