When closing on a house.......

[Antonia]

do you always get the keys to the house on the day you close even if the sellers are still moving out? They will have 7 days after closing to move out. So when is it customary for the new owners to get the keys?

 

[MELSMICE]

In New York State the minute you close the house is yours. The previous owners have no right to it any more. You can "rent back" to them if they still need time to remove their items or if they need a place to stay until their new home is ready.

Otherwise, the house is yours immediately upon closing.

 

[Thumper_Man]

It is usually customary to get the keys on the day you close. However; if you agreed to allow the seller time to move out, then you will get the keys once they have finished moving out. If after 7 days they have not finished moving out, you can always request the keys to the house as this is what was agreed upon.

DW and I had to wait 2 days before we got our keys. Our sellers had already moved out of state, so we had to wait for them to sign the closing papers. One of the first things we did when we finally were able to move into our house was to change all the locks on the doors. Never know when there might be additional keys floating around out there (keys given to relatives/friends).

Congratulations on your home purchase.

 

[abdmom]

I would never close on a house that still had the sellers living in it or having any of their stuff in it. Too much liability risk. Just saying.

 

[The Mystery Machine]

do you always get the keys to the house on the day you close even if the sellers are still moving out? They will have 7 days after closing to move out. So when is it customary for the new owners to get the keys?

I would not close unless the people were out of the house.

 

[golfgal]

I agree, don't close until they move out, if that is unavoidable, make sure part of the closing agreement requires them to take out a liability policy listing you as loss payee should anything happen in those days they are still living there. I would also make sure you got a key at closing no matter what. Why do they need the 7 days? Why didn't you just schedule the closing for a week later?

 

[BellePrincessBelle]

I would not close unless the people were out of the house.

I agree.

 

[DisneyFan32WI]

I have never heard of this 7 day thing before. Maybe that isn't true in WI..?
Once you close, the house is YOURS.

 

[Shelby5514]

YIKES! I've never heard of such a thing unless you are renting it to them for a week. Even then I wouldn't do it. I would expect the keys the day I sign the closing papers. If you own the house and something happens with them in it, who's liable? Who's paying the utilities while they're there? Sounds like a potential nightmare to me.

 

[The Mystery Machine]

YIKES! I've never heard of such a thing unless you are renting it to them for a week. Even then I wouldn't do it. I would expect the keys the day I sign the closing papers. If you own the house and something happens with them in it, who's liable? Who's paying the utilities while they're there? Sounds like a potential nightmare to me.

Agree, it is a HUGE nightmare waiting to happen.

Now we did a rent back on our first house we sold. Naturally the sewer screwed up. And then something else broke.

NEVER AGAIN unless absolutely necessary.

 

[BelleWDW]

We dida final walkthrough the morning of the closing-to make sure no damage. On our first house we discovered a huge stain on the carpet-but closed anyway.

I think if they stayed 7 days-they would have to pay YOU rent-right?

 

[pixiewings71]

Here the day you close you get the keys, the previous owners have to be OUT before closing here. Altho, when I sold a house a few years ago I did not yet have a place to live when they made their offer (ex and I were splitting up, I had to find a house that would take me, my 3 kids and our cats) and we asked that I be allowed to stay until we found a rental, they said yes but I was going to have to rent from them for however long I stayed. Luckily I found a rental down the street that was willing to take my cats as well as the rest of us. I was out of the house 2 weeks BEFORE closing, but I still had the keys until our closing day.

 

[shortbun]

In Ohio, the contract dictates the possession date. You can specify 'day of closing', '30 days after closing', '72 hours after closing.' or anything else as long as it's specified. the new owners do a walk thru just prior to possession. It's common. Our recent purchase put the keys in our hands 72 hours after closing. The seller was waiting for our check to close on her new condo and needed a few days to move out.

 

[GingerJay]

I live in NC, and like in most other states, you would get keys at closing (or at least the same day) unless you have agreed to let your sellers rent from you. 7 days is a really long time to give someone to move out. You should definitely charge rent...

 

[Ohiodislover]

It most definitely depends on the State. I grew up in Ohio, and both time I purchased houses there, it was 30 days after closing to actually take possession. I can't think of anyone I know that got keys the same day. I was in shock when we bought in Md, and got the keys upon closing.

 

[PaulaSue]

OP, I never heard of the house not being empty/clean and getting the keys then when papers signed.

They could do a lot of damage moving things out and you wouldn't have any recourse. IMO

 

[luvmy3]

We did a walk through before closing, anything that was left in the house had to be out before the closing. Its been awhile so I can't remember just how long before the closing we did it, but I know that if anything was left after it was considered ours. No way would I have let them keep the keys and come in after the closing, way too risky.

 

[BellePrincessBelle]

It most definitely depends on the State. I grew up in Ohio, and both time I purchased houses there, it was 30 days after closing to actually take possession. I can't think of anyone I know that got keys the same day. I was in shock when we bought in Md, and got the keys upon closing.

Thats crazy I can't imagine letting previous owners remain for 30 days. There could be tons of damage done in that time frame.

 

[allison443]

I agree, don't close until they move out, if that is unavoidable, make sure part of the closing agreement requires them to take out a liability policy listing you as loss payee should anything happen in those days they are still living there. I would also make sure you got a key at closing no matter what. Why do they need the 7 days? Why didn't you just schedule the closing for a week later?

I agree, especially about the insurance.

 

[Ohiodislover]

Thats crazy I can't imagine letting previous owners remain for 30 days. There could be tons of damage done in that time frame.

There is insurance built into the closing costs to protect the buyer.