Moving too fast!

[Anonymous]

We got preapproved for a loan about a week ago. We had already been tentatively house hunting and had a very good idea of what we wanted and what was available and had our eye on a couple of places. After checking out the places we were interested in on Friday we fell in love with one, and decided to put an offer in on Tuesday, our offer was accepted today. On our contract we said we wanted to close in 45 days. The builder wanted to close earlier. Our realtor spoke to our LO and then told the builder the LO said we could close in 20 days. OMG that is too fast! We live in a rental right now. We need to be able to give our notice to our landlords. We are renting the house with my mom and she needs to be able to find a place to rent, she can't afford the house we are in currently on her own. I am FLIPPING OUT. I feel so stressed out and guilty. My mom knows that we committed to buying it, but if I tell her we are closing in 20 days I don't know how she will even react. She will be so stressed out having to find a place to move by the end of the month. I don't know what to do. Can we push back our closing??

[webhopper]

So don't close in 20 days.... don't let the builder push you around

[indecison]

Totally agree on that one. Don't let them dictate the closing!! Push back!

[7ate9]

The LO said you COULD close in 20 days, it doesn't mean you have to.  If the builder is really pushing for a quick close, ask for some cash back at closing to offset the costs of terminating your lease, and use that to help get your mom situated.  It can't hurt to ask, and if they're really motivated they might go for it.

[Anonymous]

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@Anonymous wrote:

Can we push back our closing??

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Of course you can push back the closing, the seller would just need to agree. But you can also close and keep renting for a bit as well.  We actually had a month overlap ourselves; We just took advantage of the fact that our first mortgage pymt wasn't due for another whole month. It gave us a chance to do some work on the new house and move slowly out of the old. It was wonderful.

[Anonymous]

Thanks everyone! I am going to chat with my mom and see what her plans are as far as finding a place. She may choose to stay in the house and have a friend of hers who is renting an apartment nearby move in.  I am just very worried about putting my mom in a stressful position. She works full time and is actually going to college right now and is taking almost full time credits, so she is one busy lady. Having to work and go to school while trying to find a new place and pack and move and clean the old house is a lot to handle. My husband and I plan on doing as much as we can so that she doesn't have to as far as cleaning and moving, but there are somethings that she will want to pack and do herself.  We are really excited and love the house (we get to go pick out the granite for the countertops and carpet next week! Squee!!), but I am having a really hard time feeling like we are abandoning her. Her finances have never been very good and I just worry a lot about what her future will be like and want to make sure that I am doing what I can to help her, for my own peace of mind.