When does closing occur?
The transaction is pending or open during the purchase and sale process from the moment you open escrow with an earnest money deposit and tell it’s closed meaning monies are dispersed to the seller and the agents or any other parties involved and the deed is been recorded with the County.
When Does Closing Occur in a Florence Real Estate Transaction
Closing simply means that the transaction has been finalized on all parties. In the purchase and sale agreement there will be a place that you can note when the closing date will occur. Many times sellers will require closing to happen three days after signing or three days after closing to allow for the seller to pack up and move out. This is all negotiated in the purchase and sale agreement. Escrow in title companies strive to stick to these dates and have everything completed and ready to go for signing a day or two before this.
When all the documents, lender agreements, and any addendum’s and contingencies are satisfied, escrow will contact the buyer and the seller for signing separately on all the available and necessary paperwork. Make sure you ask your escrow agent or whoever is conducting the closing, to explain anything you don’t fully understand.
Once the signing is complete, monies are dispersed and warranty deeds are filed with the County and only then are the buyers allowed to receive the keys to their new home.