Estimates vary, but the general consensus is that it takes between 30-45 days to close on a house. For an anxious buyer or seller, this can feel like an eternity. So why does this process take so long? And more importantly, if you’re buying, what can you expect to come up against? Here’s a few factors that may be at work behind the scenes from when you settle on a sale price to when you get the keys to your new home.

The Mortgage Process

The mortgage process is a notorious slowdown point for many buyers and sellers too. There are many factors that can affect how low it takes to approve your mortgage. Thanks to a law passed in 2014, My Mortgage insider says it now takes mortgage lenders longer to document and approve a potential homeowner and verify that they can pay off a loan. Many times delays can also be due to just plain scheduling. If you’re buying during a time when mortgage applications are high, like right now, lenders will be busier and it can be harder to book appointments for inspections and appraisals. 

Inspections

Home inspection is also an area for potential hangups. According to J Bixler Inspections , inspections can help you catch major issues early before you close on the home. But as necessary as they are, they can also be a bit of a drag. If the inspection uncovers any issues (and they almost always do) this will usually result in further negotiations between the buyer and seller about what will be fixed, who will fix it, and for how much. This back-and-forth can lead to some lengthy delays.

Insurance

Another potential area for delays is during the home insurance process. Depending on where you live it can be difficult to insure a home. Homes located in areas prone to natural disasters, or homes with a long claims history, can be difficult and expensive to insure. According to Home Insurance Alternatives , approval can get denied for things like location, neighborhood, house history, personal history, and insurance score, to name a few. Since mortgage lenders require home insurance to approve a loan, home insurance options can also contribute to potential delays.

Closing on a home can be an excruciatingly slow process. Mortgage loan approval, home inspection, and home insurability are some of the areas that can cause potential slowdowns. But the end will eventually come, and for many, it’s worth the wait!

Read this next: How to Reduce Your Monthly Mortgage Costs