The best part of that is getting the keys.
Getting the keys…
Some think in all cases they get the keys when the transaction closes.
This could be correct, but here are some items to consider.
Negotiated Contractual Agreements
It may be that you agreed to give the seller time after escrow closes, to vacate the home, you are buying.
This typically happens as part of the negotiation process related to your specific transaction.
In some cases, it is typical to give the seller 2 days after close of escrow, COE+2.
It could be sooner!
Sometimes, the seller does not need two days after closing or sometimes the buyer does not agree and the seller accepts the buyer’s terms.
Then the buyer gets the keys after the transaction closes, after the confirmation of recording.
How does closing actually work?
Unless there is a special case or circumstance, the closing of any home is a two part(day) process.
At least in California, on the first day day the property funds, money is moved to the recipient.
A second day for recording. Where an actual person stands in line at the County Recorders Office.
Until it’s his/her turn!
Depending on his “place in line”, recording can be from between 11am and 5pm.
Once the property “records” we typically get the first phone call from Escrow.
However, I don’t like to wait so I call often.
Once I get the call I meet the buyers at a place of their convenience!!!
I understand how our buyers are anticipating this process and wanting to get into their new home.
If you want to read more articles about Real Estate – See our SCVnest blog!