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Satha Palani
  • Investor
  • Newark NJ
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Possession and ownership after closing - VA state

Satha Palani
  • Investor
  • Newark NJ
Posted May 14 2015, 12:37

Hi,

I just closed on a house sold by Fannie Mae. At the closing table, my agent tells me the settlement agent / sellers agent instructed her not to give me the keys. Wasn't in a mood to argue, especially since my agent was sure the recording will happen the next day. Now we are 2 days out and still no news, so i call the agent. Apparently they are just recording the deed today.

This messed up my plans a little; no big deal. What pissed me off was the settlement agent telling my realtor that "Virginia law requires that the deed be recorded before the keys be handed over". To me this is pure BS. What does possession have to do with ownership?

To makes things worse, i looked over the contract, and in it Fannie Mae agreed to give me possession at closing; plain and simple.

Has  anyone run into a similar issue before? Is there anything I can to about the fact that i lost 3 days of possession?    

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