Transfer of Possession and Keys
Possession transfers upon Funding in most cases. That means when the wires are sent and checks are available for pickup.
Keys do not have to be transferred until then.
Sometimes a Seller will OK the title company to hand over keys as soon as the buyer finishes signing or when the lender gives funding approval. If the funds for the sale are in the title company's escrow account, this can be reasonable. It is safest for a seller to wait until funding.
The other option for transferring possession and keys would usually involve a temporary lease.
Keys do not have to be transferred until then.
Sometimes a Seller will OK the title company to hand over keys as soon as the buyer finishes signing or when the lender gives funding approval. If the funds for the sale are in the title company's escrow account, this can be reasonable. It is safest for a seller to wait until funding.
The other option for transferring possession and keys would usually involve a temporary lease.
