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Updated over 6 years ago on . Most recent reply

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Deangelo Mack
  • Independence, MO
18
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192
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When do i take possession?

Deangelo Mack
  • Independence, MO
Posted

Hey folks sorry if this comes off as a stupid question. But im dealing with a seller we discussed terms and a day for me to come out and view the property. She asked "when will I take possession of the home". Could someone kindly explain what she's asking. I thought I took possession after closing.. Thanks in advance.

Most Popular Reply

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655
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Eric Carr
  • Real Estate Broker
  • Los Angeles, CA
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655
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Eric Carr
  • Real Estate Broker
  • Los Angeles, CA
Replied
Originally posted by @Deangelo Mack:

So do I have to wait till after closing to put my "Rent to Buy" sign in the yard?

 You generally get the keys during closing, which depends on how long of an escrow period you and your seller agree on. 

Are you paying cash for the property? The mortgage process has a few steps and if you're pre approved, the better. The major last step is underwriting. If financing has held up through the underwriting process, you are pretty much set - but you don't actually get keys and officially take possession until closing. I'm not sure what's stopping you from putting up a sign, if the current owner agrees. Maybe do it at some point during the final days before closing? Will be up to you

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