With most my past transactions there has never been an issue with when the keys were handed over.  Now I am facing a very difficult situation.  I am selling a house and the buyer wants to close on the same day that my house that I am buying closes.  I have set up the contracts so that I have the weekend to move, however, I want to help out the buyer and give him the weekend to move into his new home.

What are your thoughts on when keys get transfered?  Do you always wait for funding and recording?  Do you wait for everyone to sign the paperwork?  Do you try to accomodate the parties in the transaction or just stick to the legal aspect of the transaction?

 
Posted by Kevin Cabe on 10/26/2006 01:46 AM   Comments (6)   key, closing date, possession  
Generate short URL

6 Comments on Closing Date

OCT
26
2006
51 Featured Posts
In my experience it's not a good idea to hand over the keys before closing.  What I've learned is that it's a major liability should they injure themselves on the property.
4:00am • #1
9 Featured Posts
Thats how I work on every transaction on a buy and sell pack the truck in the morning
8:03am • #2
520,678 Points 229 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master
It's never over til the Fat Lady sings, or, in this instance, until it's funded and recorded. I don't care if it's your Mother, no one gets keys before then. Possession on closing. Period.
12:41pm • #3
294,780 Points 11 Featured Posts Outside Blog Attended Rain Camp

Keys and Possess after DOD

Ray Saenz
12:47pm • #4
1 Featured Post
Do yourself a favor...no keys until closing...period!
1:46pm • #5
NOV
01
2006
508,343 Points 4 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp
Closing equals funded and recorded.  However, talk with the title company and see what they can guarantee as far as liability is concerned if you choose to bypass the closing funded and recorded policy.
12:41pm • #6


What does the graphic say?
Leave a response…

(optional)
Spam Prevention:
 

Kevin Cabe

Lake Forest Park, WA

More about me…

Champions Real Estate Services

Cell Phone: (425) 591-3721

Email Me



Links

Archives

RSS 2.0 Feed for this blog