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    Renting & Real Estate

    Question

    once you go to close on a home will the give you the keys to it and can you move the same day to the house?
    a friend of mine he hasthe closing day next week but he is unsure if he can move in the same day. also does he have a time frame until he calls for the electricity and all the utilities to put on his name the very next day?? any info will be helpful
    a few seconds ago 7 Answers

    Best Answer

    Chosen by Asker
    Real Estate 101: It depends on what his contract has for "Possession" or "Occupancy". Often, possession can be on closing, sometimes not. Depends on if someone is living there or not or needs time to remove belongings. Vacant home often have possession "on closing". If possession is more than 3 days after closing, typically the buyer is entitled to rent from the seller. You can sometimes call local utilities ahead of time and have services connected as of a certain date. If not, he could go a week or longer without phone, internet, cable TV, etc.
    a few seconds ago

    Other Answers

    • Well the day that escrow closes we make sure that the keys are set and ready to go at the seller's agents office (usually with the receptionist) then the agent's buyer or the buyer himself can go to the office and pick them up. OR you can ask your agent how you guys are going to work it out. This is not a stupid question it's important to know what is the next step and if there is a procedure to follow depending on your state. I'm in CA.

      by jcardenasremax - 17 minutes ago

    • Unfortunately you don't always get the keys at the closing. When I closed on my house it took up to three weeks after closing! But luckily I had met the owners in the process, who were nice enough to show me how to operate the pool pump and vacuum, how to set the thermostat on the new water heater, and the sprinkler system, they also left me an extra set of keys. So I was able to move in before the closing was finalized, which I don't think was legal. But hey I needed a place for my children and I to live. Many times the utility companies will come out fairly soon a day or two, a week at the most. Cable and phone took the longest!! I hope this helps you, best of luck!

      by webuyhouses24_7 - 17 minutes ago

    • Just like everything about real estate, it is all negotiable. His agent should have gone over these details long before this stage of the game to be sure all will be smooth. *Most* of the time, you take possession same day as closing (you receive the keys at the closing and can begin then). However, the contract should have stipulated when possession occurs. Plenty of times the current owners need more time to vacate and they pay "rent" to the new owners for the additional days. Conversly, sometimes the house is already vacant and the buyer can move in early, with or without rent - depending on the the agreement. Definitely pull out the agreeement and look for the possession section. Phone calls to all utilities with the date service needs to be changed should prevent any disruption in services.

      by Heaven Bound - 17 minutes ago

    • Yes, once you close the house is yours and you can move in right away, unless special arrangements are made with the seller. But the home is yours, and if the seller needs to stay, be sure to talk to the attorney about a rental agreement where you would collect rent from the seller/previous owner. The final utility and oil tank readings are made the day of the closing. If there are no realtors involved, be sure this is done. Good luck!

      by Ron da Don - 17 minutes ago

    • Once he signs that contract and the seller hands over those keys your friend can move in right away and he can also have the electricity and utilitiy bills put in his name.

      by Beautiful - 17 minutes ago

    • You get the keys and move in the day of the closing. You can call the electric co. to have the electric turned over to your name the same day too, as well as other utilities.

      by DJ - 17 minutes ago

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