Why do I need the wait() function in my script?

CanTeleport = script.Parent.Value.Value
CanTeleport = true

script.Parent.Touched:connect(function(hit)
    if CanTeleport == true then
        CanTeleport = false 
        if hit.Parent:FindFirstChild("Humanoid") ~= nil then
            hit.Parent.Head.CFrame = CFrame.new(114, -34.1, -368)
            CanTeleport = true
        wait(1)
    end
        end
end)

The script above was not working, after the second time of using it. It worked the first time fine, but then after the second time it said "Head is not a Part of Accessory" or something like that.

After adding wait(0.2) to line 6 it worked, but what I just don't understand is why. Why do I need to allow the computer to wait for 0.2 seconds in order for it to function properly? As you probably know I'm new to scripting so please try to be.. simplistic with answering.