When is it OK for the Buyer agent to remove the keys from a property

I absoultely agree with you position.  That is why I remove the lock box about 5 days before it records.

We utilize the time of funding as the starting point for even touching on the subject of key transfer - I think the common misconception with Buyers is due to shows like House Hunters or My First Home that show keys being handed over at the signing table. 

That, and the new furniture suite waiting in the empty house that's had a big red bow affixed to the front door. :)

Andrew,

As a listing agent, I always remove the lock box right after the buyer's inspection condition is satisfied.  We have an obligation to our sellers to safeguard against inappropriate ingress into the home.  Aside from that, it puts me in control of the appraisal.  If there is no box, they have to contact me to access the home. 

The keys should never be in the possession of the buyer or their agent until the deal is done and recorded.  In fact, the listing agent is partly to blame if they leave the keys in the box for the other agent to go get early.

Almost every mls I've known has rules against any agent, other than the listing agent, removing the keys from a lock box.  They will usually fine a buyer's agents for removing the keys from the box without permission.  Wait until a buyermoves into the house before it closes because their agent gave them the keys early and said it was ok because it will close on Monday!

I agree with Douglas's approach.  I like to remove the key box and set up a hand off.  It cuts down on unexpected surprises.

Andrew:  Much earlier in my career I had that happen several times.  No more.  Now, just  a few days before closing, I take the lockbox AND the key off the door... so that it is either myself or the seller who has the only control over who gets into the house.  

I don't care what the buyer's agent says.  No keys before closing.  Period.  Sure, we as listing agents have to make an extra trip to deliver the keys when the seller gives permission... but that is the best way to avoid any problems.

We have had the Buyer's agent remove the key and lose it temporarily! We had more, but what if we didn't?  It was completely without our permission as the listing agent and I confess that I thought it very irresponsible of the part of the Buyer's agent.

---Sara in San Antonio

The buyers agent should never remove the key from the lock box, period.  The listing agent should remove the lock box and key just prior to closing.  The key should be given to the closing agent to be delivered to the new buyer only when the property has closed and funded.

The buyers agent has no business taking the sellers key.

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Just as an aside: In IL we *do* hand keys and garage door openers over at the closing table. (assuming the loan is funded, of course!)