Transfer of Possession
A transaction is considered
"closed" once the deeds have been recorded. Then you own the home.
However, it is not always possible for you to occupy it immediately. This can
happen for several reasons, but the most common is that the seller may be
purchasing a home, too. Usually, it is scheduled to close simultaneously with
your purchase of their home.
It is sort of like being at
a red light when it turns green. Although all the cars see the light change at
the same time, the guy at the back of the line doesn’t begin moving until all
the cars ahead of him have started. Seven Lakes property and horse farms for
As a result, it has become
customary to allow the seller up to a maximum of three days to turn over actual
possession and keys to the home. When transfer of possession actually occurs
should be clearly laid out in your offer to prevent confusion later.
This site was developed to
provide information on Pinehurst real estate including Pinehurst Golf
and Waterfront homes, Pinehurst condos, and Pinehurst and Southern Pines
Commercial real estate.
Please visit our other area
Real Estate websites:
Pinehurst Homes For Sale
NC Horse Farms
Pinehurst NC Real Estate
Fort Bragg Real Estate
Pinehurst Real Estate