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Closing Date

By
Real Estate Agent with Champions Real Estate Services

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?

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Bob Pavey
RE/MAX Hometown - Aventura, FL
CRS
Thats how I work on every transaction on a buy and sell pack the truck in the morning
Oct 26, 2006 01:03 AM
Rich Jacobson
Fathom Realty West Sound - Poulsbo, WA
Your Kitsap County WA Real Estate Broker
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.
Oct 26, 2006 05:41 AM
Ray Saenz
Exit Realty Laredo - Laredo, TX
Homes for Sale in Laredo, TX - Texas, Realtor

Keys and Possess after DOD

Ray Saenz

Oct 26, 2006 05:47 AM
Pam Hofmann
Third Tennessee Realty & Associates, LLC - Crossville, TN
Your Crossville, Lake Tansi & Fairfield Glade Specialist
Do yourself a favor...no keys until closing...period!
Oct 26, 2006 06:46 AM
Rob Lang
At Home Kansas - Shawnee, KS
Local Expert in NE Central Kansas Real Estate Home
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.
Nov 01, 2006 04:41 AM