In Real Estate, possession is when you actually take control of the property. The question often comes up as to when that actually occurs. I have seen this issue to be more important than the price received or paid on a property! At closing of escrow the buyer is given the keys to the home and any other pertinent items belonging to the property; mailbox keys, garage door openers etc. At the close of escrow the buyer legally owns that property and is free to move in and begin to enjoy their new home. Maybe they will paint … (4 comments)
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