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Go Ahead and Demand the Key! Immediate Possession is a Good Thing in Real Estate
First Time Homebuyer Question What is Immediate Possession? Today people want everything NOW! There are drive thru windows for quick meals. We communicate with instant messaging and texts. Americans are trained for immediate gratification in our daily lives. As a Minnesota REALTOR® I try my best to get people to slow down throughout the homebuying process. But when it comes to handing over the keys, I strongly recommend my clients ask for immediate possession. Immediate possession after closings is good for both the homebuyer and homeseller in a real estate transaction. In Minnesota, time of possession of the property is negotiated. But it is in everyone’s best interest that the buyer be given the keys to the home at the time of closing along with full possession to access the property. As a REALTOR® who works with first time homebuyers, move up homebuyers, downsizing homesellers and everyone in between, it has been part of my job to navigate the moving day obstacle course for clients on more than one occasion. From time to time there will be a chain of transactions that all will close on the same day…i.e. The first time homebuyer is purchasing from a homeseller who then goes to ... more
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