We get this question a lot! I just wrote an offer on a house – when do I get my keys? Great question and most commonly the answer is at closing. The problem is many people define closing as many different things.
Some buyers believe they get their keys when they sign all the paperwork, which in most cases is incorrect. That paperwork has to make an incredible journey before the home transfers possession.
1) Bank generates loan documents & sends to closer
2) Closer receives and prepares documents per banks instructions
3) Appointment set for parties to sign
4) Once all parties have signed Bank receives docs back for review, if NO conditions bank clears to fund and sends money to closer
5) Closer sends documents to courthouse to be legally recorded
6) After legal recordation, funds are dispersed to seller
7) You are THEN legal owner of the home and entitled to keys (unless otherwise specified in the contract).
This process can vary some, but GENERALLY speaking this is the case, have questions? Contact us!