No, I Really Cannot Give You the Keys.......

By
Services for Real Estate Pros with Personal SEO - Website SEO and Real Estate Marketing

Don't you love those buyers that think the second they sign, they get the keys. How many times have I explained that in detail and the repercussions of what could happen should I give them the keys before it closes.

No, I really CANNOT give you the keys. Giving Buyer the keys

How many times have you explained to buyers that closing is not when you sign. There are still so many more facets involved after you sign the documents. If ANYTHING should go wrong and I give you the keys, you are still trespassing on the seller's land until they have money in their hand.

Then once they sign, it's the waiting.... waiting..... waiting..... A call every hour from the buyer or you to escrow or title to see if it has funded and been recorded. Yes, these are the best and the worse times for us I think. The buyer won't stop bugging you; you are ready for this month plus ordeal to be over and want to see happy home owners in their new home.

 

But trying to explain to them that they cannot have the keys until you get that call is like showing a kid a lollipop and saying, stare at this for a couple days till I say you can have it. UGH.... not fun. But necessary.

Then you have those buyers that don't remember allowing the seller 3 days AFTER closing to move out. Now it's about 6+ days from the signing and they are really starting to get antsy. But it is what it is. I remind them, you will be in shortly, this just seems like a long time. I cannot break the law by giving you the keys early whether or not the home is vacant. Sorry.

How have you waited out the time from signing to closing? Had any horror stories of buyers breaking in early? Check out my St George real estate affiliates for excellent buyer and seller articles plus my Sedona homes professionals help their buyers at closing. Thanks for reading!

Posted by

 

ActiveRain and SEOTammy Emineth is an expert in custom content and original articles for blogs, website, press releases and more. Contact me anytime and feel free to subscribe to this blog to stay up to date on my latest blogs and informative information. Email me or contact me for Real Estate Website Marketing and SEO Content Writing.

 Twitter Me  Blogspot Blog  Connect on Linkedin  Google Plus Find me on Facebook   Find cool stuff with me on Pinterest  Fun stuff on my tumblr page

The information contained in this blog is believed to be true and correct and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy for any particular purpose. All information is copy written and the property of Tammy Emineth.  

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Groups:
Active Rain Newbies
The Lounge at Active Rain
Real Estate SEO
Addicted to Active Rain
Blogs Happen...
Tags:
closing
time to close
give buyer the keys
recording time

Spam prevention
Show All Comments
Rainer
163,985
Matthew Johnson
Keller Williams Premier Realty - Woodbury, MN

I have even heard of some doing demo work on vancant homes without telling anyone!

Nov 22, 2010 02:23 AM #1
Ambassador
602,828
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

oh I believe it! If they think they can get away with it, they probably will try. Wow.

Nov 22, 2010 02:29 AM #2
Rainmaker
786,820
Mike Jaquish
Realty Arts - Cary, NC
919-880-2769 Cary, NC, Real Estate

Tammy,

Our updated forms for 2011 in NC refer to "Settlement" when the paperwork is signed at the attorney's office, and then "Closing," which is when the deed is recorded.

So, we will give keys at Closing.  After we explain the meaning.  Repeatedly.

Nov 22, 2010 02:48 AM #3
Rainmaker
642,556
Dawn A Fabiszak
Private Label Realty ( Denver metro area, Colorado - Aurora, CO
The Dawn of a New Real Estate Experience!

Tammy ~ I have never really had this problem.  I've had buyers ask if they could move some of their property into the garage before closing, but have never had them ask for the keys.  I just explain that property will not be theirs until the documents have been signed and money has been exchanged.  There is also the issue of insurance on the property.  The buyer's belongings would not be insured until closing.

Nov 22, 2010 03:58 AM #4
Ambassador
602,828
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Dawn, the insurance is a good way to deter then maybe. I am surprised you haven't had this much at all. Every single buyer I had begged me for it, even got mad sometimes. I remember waiting in the snow 4 hours (outside the locked office) for an agent to get me the keys cause the buyer was so antsy.

Mike, Yes, repeatedly is the key word. ha!

Thanks for the posts.

Nov 22, 2010 04:22 AM #5
Rainmaker
373,850
Carla Harbert
www.LorainCountyHomeSales.com - Avon, OH
RE/MAX Omega: Lorain-Medina County Area

Oh yes, the handing over of the keys. I try to keep it as exciting as possible for the new buyer - I know how anxious they are, can't wait to get in. Our contracts specify a date/time for buyers to get the keys, which helps takes the pressure off the agent. Our title companies are also good to point that out as friendly reminders.

Nov 22, 2010 05:07 AM #6
Rainer
61,943
Chris Dugger
Real Estate Marketplace - Louisville KY - Louisville, KY
Louisville REALTOR

Tammy ~ I haven't had any such request in the Louisville market. When I bought my first home 9 years ago, I remember the listing agent letting us move things into the garage days before closing. That was before I was licensed anywhere, so I didn't see the fault in what she did. Luckily, our contracts here make it very clear when possession takes place. Like you said though, it never fails that the buyer forgets that they allowed 'delayed possession' in the contract. Had that happen last week!

Nov 22, 2010 10:59 AM #7
Ambassador
602,828
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Chris, yes, how convienent for them to "forget". Of course most don't realize what they have agreed to until it becomes a reality. Thanks

Carla, Its nice when you have several parties involved telling the buyers they can't move in. Then you're not the only bad guy sticking to the rules. Thanks for the comments folks!

Nov 22, 2010 11:56 PM #8
Rainer
140,514
Maureen Fukumoto
Help-U-Sell Realty Pro - Mililani, HI
Maureen

Tammy,      Does everyone allow the seller 3 days after closing to move out?  In Hawaii, the seller is expected to be out & the house cleaned by the time I get the call that the sale has recorded, usually about 8AM.

How do you deal with a seller who doesn't clean properly or who damages the property on the move out?

Nov 24, 2010 06:47 AM #9
Rainmaker
272,575
Ross Quintana
Real E Smarter - Spokane, WA
Real E Smarter Real Estate Coach - 509-362-1966

Actually we told one agent his clients couldn't have early possesion and he said what if they break in, what you going to do, call the cops... I was shocked at first, but they actually did break in after we said no. I went there and they were moved in. I wanted to call the cops, but the seller just wanted the sale closed. grr. I would never take an offer from that agent again.

Nov 26, 2010 08:11 AM #11
Ambassador
602,828
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Maureen - yes, every state is a little different. It's nice to have them out before you get the "go ahead" but I'm not sure about the second part. There is a paragraph in the purchase and sale that usually says the seller must maintain the property to a certain extent until the sale closes. I would assume legal action would need to take place should it be violated.

Ross - Wow, what DO you do?? That would be tough and if the sellers just want it to be over, I suppose there is nothing you can do. But knowing you won't work with that agent again is a good place to start. Thanks for the comments! :)

Nov 27, 2010 12:04 PM #12
Rainmaker
636,085
Scott Fogleman
New Home Team 804-573-9592 - Richmond, VA
New Home Team

Tammy,

Great post! No, I do not mind you referencing it on my blog also. Its actually good to know I am not the only one who has had this problem.

Dec 22, 2010 08:10 AM #13
Ambassador
602,828
Tammy Emineth
Personal SEO - Website SEO and Real Estate Marketing - Marysville, WA
Content Marketer, SEO Teacher, Website Fixer

Thanks Scott! Congrats on yours getting featured! It's an important topic more people need to stress. Thanks :)

Dec 22, 2010 08:15 AM #14
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
602,828

Tammy Emineth

Content Marketer, SEO Teacher, Website Fixer
Have a Website or SEO Question?
*
*
*
*
Spam prevention

Additional Information