Our client asked this Question: When do we get our keys?
Question:
Will we actually get the keys on our closing day? I have heard of people signing the closing papers, but then they didn’t get their keys until a few days later. Would there be a chance of that happening and if so…why?
Answer:
In many other states people sign and get possession of the property the same day.
In the State of WA, buyers and sellers sign papers a day or two ahead of the closing, and that’s what you will do in most cases. Closing day is still the day you get your keys.
Why? Washington is an Escrow state–that means that the escrow officer will guide you through the signing and notarize your signatures. Then all your loan documents go back to the lender for a final review, then funds are released and title releases the deed to record at the county. Once the deed is recorded, you get your keys. Though technically at 9PM on the day of closing is when you can have them,most often the keys are turned over to the buyer as soon as escrow says the transaction is closed.
Lynette Hensley, Associate Broker
Tags: closing, Escrow, keys