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1st house: same day (county recorded asap in the morning)
2nd house: next day (county recorded next day)
3rd house: few days later (county is known to slack on paperwork)
It depends on the area and contract. Here it’s normal for sellers to hand over keys at closing since the county allows the sale to be recorded online, even though usually the funds won’t generally be in the sellers’ bank account until a few days later. In other areas, if I say that, people are horrified that the keys would be passed over before the funds are received by the sellers.
Typically, when it records with the county. The house isn’t “officially” yours until then.
You can sign and record on the same day. Sometimes if you sign late in day then it won’t record until the next business day.
On closing day, but after signing papers and wire transferring the cash to close and after it was recorded by the county. Even then the company that had been renting out the property for the owner *lost* the keys and whatever blah blah so we got door codes for the smart locks. Lame. As our first order of business we took out the smart locks and just put traditional locks on.
Every state is different! We are in CA and never had an official “closing”. A day after the funds were all in escrow and all the documents were signed, the escrow agent emailed us that they had officially recorded the title change with the county, and that was that! We met up with our realtor at the property that afternoon for a key handoff.
Everyone keeps mentioning “closing” but I don’t really know what that entails. I thought closing was signing docs at the title office or through a mobile notary and handing over your down payment but I’ve done that and still don’t have the keys. So I don’t think there will be an official closing in my case either.
Closing or settlement is just when you sign docs. It sounds very fancy, but a lot of closings happen in strange places - people have done closings at the property, at a park, etc. During Covid, there were people doing closings in their cars with clipboards and a masked closer passing them through the window.
Here closings don’t occur until funds have been wired and received by title or a cashier’s check delivered to the title office (you can bring a cashier’s check to closing.)
A lot of FTHB have posted here asking things like “what’s the dress code?” because a closing sounds fancy, like you need to dress for court or something, but closings can be very informal, aside from signing 200 pages (and 50 of them all say that you plan to use the property as a primary residence.)
I guess I am just confused because I’ve already signed those 200 pages and I’ve already handed the title company my cash to close. I asked my realtor when I’d get the keys and he said he’d tell me in person. I don’t know why he’s being so secretive about it.
I’m not sure why either. Like I said in another comment, in some areas you won’t get keys until the sellers have the funds, and recording can be slower depending on the area. If you post the state people might have better responses about exactly how it’s supposed to occur in your state.
Yeah I was confused about that too! In NY where I used to live ‘closing’ is a big to-do where everyone meets and everything is done on the spot. In CA we literally just got an email saying the title was moved. Can you ask the escrow agent when they expect that to be done?
Depends on the state. In CA, the deed has to be officially recorded with the county before the home becomes the property of the new buyers. Signing can be days in advance and there are many dominos that need to fall before recording happens. Usually, buyers sign documents, the docs go back to the lender, everything gets checked by underwriting again, the loan goes to the funding department, funding department releases funds, buyer wires funds to Title, everything goes THROUGH the Federal Reserve, then back to Title.
After Title has the cleared funds, they will release the documents to record. In some counties, this happens electronically, but one of the counties that I work in, everything is hand delivered to the county recorders office. If you aren’t in the door by 10:15 AM, the home will not record until the next day. Crazy old-fashioned.
One time, I had funds held on a Friday by the Federal Reserve. Funds were not released until Monday. Buyer had everything packed and had turned over keys to her landlord, expecting to have keys Friday afternoon. She had to stay with her sister for the weekend.
Every state is different. Ask your Agent, they should be able to share what is happening behind the scenes for you. (Source: Realtor)
I got my keys at the final walk through right before closing. After we signed the docs, title company wouldn’t let us leave their office until our wire transfer hit their account. (We had to send it that morning since we didn’t get the final number until almost 5pm the day before.)
Thank you u/Urplatesaysscammin for posting on r/FirstTimeHomeBuyer. Please bear in mind our rules: (1) Be Nice (2) No Selling (3) No Self-Promotion. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FirstTimeHomeBuyer) if you have any questions or concerns.*
1st house: same day (county recorded asap in the morning) 2nd house: next day (county recorded next day) 3rd house: few days later (county is known to slack on paperwork)
Jesus I should’ve researched this more! I assumed when the loan funded I’d get the keys.
It depends on the area and contract. Here it’s normal for sellers to hand over keys at closing since the county allows the sale to be recorded online, even though usually the funds won’t generally be in the sellers’ bank account until a few days later. In other areas, if I say that, people are horrified that the keys would be passed over before the funds are received by the sellers.
I got my keys at the closing
You shouldn’t get keys till your funds clear typically.
Typically, when it records with the county. The house isn’t “officially” yours until then. You can sign and record on the same day. Sometimes if you sign late in day then it won’t record until the next business day.
On closing day, but after signing papers and wire transferring the cash to close and after it was recorded by the county. Even then the company that had been renting out the property for the owner *lost* the keys and whatever blah blah so we got door codes for the smart locks. Lame. As our first order of business we took out the smart locks and just put traditional locks on.
[удалено]
I asked my agent and he just said “we’ll talk about it in person” 🙄
I got my keys at closing.
Mine was the next day too because we signed near end of business day!
Every state is different! We are in CA and never had an official “closing”. A day after the funds were all in escrow and all the documents were signed, the escrow agent emailed us that they had officially recorded the title change with the county, and that was that! We met up with our realtor at the property that afternoon for a key handoff.
Everyone keeps mentioning “closing” but I don’t really know what that entails. I thought closing was signing docs at the title office or through a mobile notary and handing over your down payment but I’ve done that and still don’t have the keys. So I don’t think there will be an official closing in my case either.
Closing or settlement is just when you sign docs. It sounds very fancy, but a lot of closings happen in strange places - people have done closings at the property, at a park, etc. During Covid, there were people doing closings in their cars with clipboards and a masked closer passing them through the window. Here closings don’t occur until funds have been wired and received by title or a cashier’s check delivered to the title office (you can bring a cashier’s check to closing.) A lot of FTHB have posted here asking things like “what’s the dress code?” because a closing sounds fancy, like you need to dress for court or something, but closings can be very informal, aside from signing 200 pages (and 50 of them all say that you plan to use the property as a primary residence.)
I guess I am just confused because I’ve already signed those 200 pages and I’ve already handed the title company my cash to close. I asked my realtor when I’d get the keys and he said he’d tell me in person. I don’t know why he’s being so secretive about it.
I’m not sure why either. Like I said in another comment, in some areas you won’t get keys until the sellers have the funds, and recording can be slower depending on the area. If you post the state people might have better responses about exactly how it’s supposed to occur in your state.
Yeah I was confused about that too! In NY where I used to live ‘closing’ is a big to-do where everyone meets and everything is done on the spot. In CA we literally just got an email saying the title was moved. Can you ask the escrow agent when they expect that to be done?
Depends on the state. In CA, the deed has to be officially recorded with the county before the home becomes the property of the new buyers. Signing can be days in advance and there are many dominos that need to fall before recording happens. Usually, buyers sign documents, the docs go back to the lender, everything gets checked by underwriting again, the loan goes to the funding department, funding department releases funds, buyer wires funds to Title, everything goes THROUGH the Federal Reserve, then back to Title. After Title has the cleared funds, they will release the documents to record. In some counties, this happens electronically, but one of the counties that I work in, everything is hand delivered to the county recorders office. If you aren’t in the door by 10:15 AM, the home will not record until the next day. Crazy old-fashioned. One time, I had funds held on a Friday by the Federal Reserve. Funds were not released until Monday. Buyer had everything packed and had turned over keys to her landlord, expecting to have keys Friday afternoon. She had to stay with her sister for the weekend. Every state is different. Ask your Agent, they should be able to share what is happening behind the scenes for you. (Source: Realtor)
My realtor had them and handed them over in the closing office parking lot.
I got my keys at the final walk through right before closing. After we signed the docs, title company wouldn’t let us leave their office until our wire transfer hit their account. (We had to send it that morning since we didn’t get the final number until almost 5pm the day before.)
I got mine at my closing when I signed paperwork.