Now to the question we hear most often late in the home-buying process – When do I get my keys?
We hinted at the answer in the previous blog post. Your escrow representative takes your signed documents, delivers them to the King County Administration Building (500 4th Avenue, Seattle) and has them registered with clerks at the Recorder’s Office. (The office is closed on weekends and legal holidays, potentially delaying possession of the new home.) Recording the deed and other key documents is THE final step before a new homeowner can receive the keys.
Recording accomplished? Transaction complete. The home is officially yours!
Your real estate broker would have already arranged a time and location to hand off the keys, fobs, remotes and passwords required to access the home’s entrances, open garage doors, arm/disarm security systems … oh, and get to that false door to your new wine cellar. (The what?!)
In some situations, when, for example, the seller has already vacated the property, the broker will hand over the keys while closing is ongoing – a slightly dangerous practice should there be a last-minute hiccup with paperwork, processing or payment. We recommend following the contract, which includes a section on possession.
The second-most common question at this stage? When can I move in?
The answer, usually, is after you receive the keys and final instructions from your broker. In Washington state, most homes may be occupied by new owners starting at 9pm. A strange time, perhaps, but this allows escrow, the mortgage company and Recorder’s Office the time necessary to do their work behind the scenes on that transition day. In most cases, homeowners start moving the day after closing (or 2-3 days after signing).
If you are moving to a condominium, verify with your broker whether the concierge or building manager will have the keys and whether he/she will be able to give them to new homeowners after the closing or if you need to present a signed document proving ownership.
When in doubt, ask your broker – the person who has been there every step of the way.
Congratulations!