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Las Vegas Homes For Sale • Henderson Homes For Sale • Las Vegas Realtors • Transfer of Possession of Las Vegas Real Estate
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Buying Las Vegas Real Estate
Transfer of Possession of Las Vegas Real Estate |
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Transfer of Possession of Las Vegas Real Estate |
Your transaction is considered "closed" when the deed has been recorded. Then you own your home. Sometimes, however, for several reasons, it isn't possible for you to occupy it immediately. Probably the most common reason is that the seller is closing on their purchase simultaneous with their sale - there is a domino effect with the recordings which causes a bit of time required for the seller to close on his/her next purchase. As a result, it has become quite customary to allow the seller up to 3 days to turn over actual possession and keys to the home. Costs are prorated in escrow before your close to account for the possession date.
Possession dates need to be clearly defined in your "Offer to Purchase" to avoid confusion. |
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