You’ve found the home, negotiated the price, and signed the contract. The finish line is in sight! But just when you’re counting down the days until closing, your lender calls… and moves the date. Then two days later it happens again! And Again…

If you’re new to the homeselling process, this can look like a red flag and cause a lot of anxiety, and you’re not alone! The important thing to remember is that this is very common, even in the simplest of closings! If you’ve ever wondered why lenders keep shifting the closing date, here are the most common reasons, and what you can do to keep your home purchase on track.

1. Final Loan Approval is Still in Process

Even after your initial pre-approval, your lender must complete an in-depth underwriting process. This means reviewing every financial document, and sometimes asking for additional ones, to ensure nothing has changed since you first applied. If new information comes up (like a bank deposit they need to verify or a credit inquiry to explain), the lender may need more time.

2. Appraisal Delays

An appraisal confirms the home’s value for the lender. If it comes in late, lower than expected, or with conditions (like repairs needed), it can delay the loan process. The lender legally can’t finalize the loan without a satisfactory appraisal.

3. Title Issues

Before closing, a title search ensures there are no liens, ownership disputes, or legal claims against the property. If something unexpected pops up, even something as small as a clerical error in a past deed, the closing can’t move forward until it’s resolved.

4. Document Expiration

Mortgage documents like pay stubs, bank statements, and credit reports expire after a certain number of days. If your closing date moves beyond those timelines for other reasons, your lender may require updated paperwork, which can add days to the process.

5. Third-Party Delays

Lenders often rely on outside vendors: appraisers, inspectors, title companies, and insurance providers. If your property has an HOA, they’re required to provide documents to the lender and may have been dragging their feet. If even one of these parties experiences a delay, it can ripple through the entire closing timeline. 

6. Problems on the Buyer Side

Lenders often rely on outside vendors: appraisers, inspectors, title companies, and insurance providers. If your property has an HOA, they’re required to provide documents to the lender and may have been dragging their feet. If even one of these parties experiences a delay, it can ripple through the entire closing timeline. 

Buyer changed credit score. Sometimes buyers do a silly thing where they change their credit score between getting pre-approved and closing on a property. Even a few points drop could cause the terms of their loan to change, which is a big start over for the lender on paperwork. In the worse case they no longer qualify at all and the deal falls through, but if this was the case and they asked for an extension it means the lender thinks they can make it work (maybe the Buyer gets another .5% interest rate or something).

How to Protect Your Closing Date

  • Respond Quickly: Get your lender any requested documents as soon as possible. You may not avoid every delay, but a lot can be avoided through quick followup.
  • Avoid Big Financial Changes: Don’t change jobs, take on new debt, or make large, unexplained deposits. Don’t think red flags like this will go unnoticed, lenders will investigate them and they have the potential to entirely derail your sale!
  • Stay in Communication: Check in regularly with your lender and real estate agent so you know exactly where you stand. As you near your closing date, proactively ask if they need anything from you.
  • Have a Plan B: If you’re scheduling movers, utility transfers, or travel, be prepared for the possibility of a short delay. Make sure they’re aware of possible last minute changes and request a window. Have a backup plan in the case of movers, many movers already have a schedule that is filled weeks or months in advance and your next move option may already be filled.
  • Consider a Rent-Back Agreement: If you’re selling your current home but your new home’s closing is delayed, a rent-back allows you to remain in the property for an agreed period after closing. This can relieve moving-day pressure and buy you time if your closing date doesn’t align with your movers.

Bottom line: Changing closing dates are frustrating, but often they’re about ensuring every detail is correct and protecting everyone involved, including you! In most cases you have nothing to worry about with a moved closing date, but it’s always good to check in and make sure you’re not the one holding up the process. With good communication and fast responses, you can help your lender keep things moving, and cross the finish line as soon as possible.

We’ve guided thousands of buyers and sellers through every type of market, and we’d love to help you navigate this market with confidence! If you or someone you know is thinking about making a move, Call or Text us! If Your Home Doesn’t Sell, Debbie & Sarah Will Buy It – That’s Our Guarantee!* Call or Text us Today at 804-486-7388!