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We are moving to another state in November. I will be "retired" as I will be using up vacation. Real date is 12/30.
We don't plan to change over car registration or driver's licences until after Jan 1, 2021. Mostly so taxes aren't convoluted with 45 days in Ohio.
Will it be an issue with processing/closing a loan if we buy a house in December? I guess technically we won't be residents but we don't have a mortgage in our current state.
We are moving to another state in November. I will be "retired" as I will be using up vacation. Real date is 12/30.
We don't plan to change over car registration or driver's licences until after Jan 1, 2021. Mostly so taxes aren't convoluted with 45 days in Ohio.
Will it be an issue with processing/closing a loan if we buy a house in December? I guess technically we won't be residents but we don't have a mortgage in our current state.
You mean a state-issue ID? People relocate to different states all the time. They also buy vacation homes in states they are not residents of. I doubt the residency state ID matters. What DOES matter is whether the lender can verify that the person sitting in their office is who they say they are and that their financial information tracks back to the same person.
One caution, some governmental entities may see that you purchased the property in November and assume you became a resident on that date. You might have to prove otherwise. Not saying this is going to happen, but it’s always a possibility.
Olds1 - It shouldn't be an issue. My wife's ID was in Texas when she bought a house in Maryland a couple years ago. Her Texas ID was also to be expired within one year during the time of closing the house. There was not even a question asked. They (the mortgage lender) did attempt to trace back to the original address that was on her ID then -- to ensure that she was a resident there.
You'll run the risk of being pulled over in your new state for violating the license and registration laws for new residents. That could get expensive.
1. Cops have very little interest in this law and they would have to be bothered asking why someone is driving around with a license and tags from another state. Unless the OP is on the 10 most wanted list or matches a BOLO there's no reason an officer should be asking "did you by any chance just move here? When"?
2. THere is a pandemic going on giving many people an (valid) excuse to delay interactions with the DMV - in our state it's appointment only and good luck getting one in 30 days.
As long as you have a valid, unexpired picture ID, it doesn't matter from where it was issued. You can even use a passport for identification in lieu of a driver's license. The lender and closing agency just need to verify your identity.
Unexpired - as long as it was issued by a state or federal agency
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