Three Things Which Can Delay Buying Your New Home

Buying a house is one of the most exciting things you'll do in your adult life; it's a rite of passage in many ways and is the start of a brand new chapter. If you're looking to buy your new home this year, it's important that you consider some of the factors which could affect the speed of which you can buy your home and move in. It's easy to get carried away and start planning the rooms, buying furniture and imagining your new life, but it can be a bit of a lengthy process. Today we will be looking at some of the things which can cause a delay for you with buying your home. 

One of the most extreme things which can cause you to have to wait to move into a new home is known as probate. Probate is a process which occurs when someone dies and their home is to be sold on their behalf. It is a process done by lawyers such as GB Abogados and it can take a few weeks to get all of their affairs in order and be ready to sell up. This can delay your buying process by a few weeks or so but it shouldn’t be too much of an issue unless there is a problem with the legal stuff. 

When you initially apply for a mortgage you will need to go through several different processes and this will ensure that the home you are buying is safe and that it is worth what the seller claims. Your lender will carry out a home buyer’s report on the house before you sign any documents and this will include checking that the home is worth what it says it is worth, and also making sure that the house is safe inside and out. If any big issues are found and the house is considered to be a danger, this will delay your home buying process because the seller will be told to fix these issues before they can sell the house. Depending on the size of the home this can take a few weeks or months so it can be a pain for you. Once the work is completed and the house has been checked over once again this is when you will be allowed to start signing paperwork and making those final preparations. 

One of the things you will always see on adverts for houses for sale is something like 'no vendor chain' and the reason why this is a big plus for you is that you don’t have to wait for a whole chain of people to sell their old home and buy a new one before you can move into yours. However this will sometimes be the case and you will have to wait for someone else to complete their own sale in order for you to move into your home. For example if you are buying house from someone who is buying a house from someone else; you’ll have to wait for the third person to sell and move so that the seller of your new home can move out, so that you can move in. It can be a long and complex thing to deal with and it can be a bit of a nightmare if there are many people involved in the chain.