How far in advance do you know your closing date?

Provide at least 30 days from the time of the offer until the closing date. In general, most people set a closing date 30 to 45 days after the offer has been accepted. There are a few steps that need to occur between a final offer and the closing date.

When does a house change hands after closing?

Possession typically changes hands upon closing, but market conditions can influence this a bit. Bear in mind that a real estate closing doesn’t always coincide with the recording of the deed, because in some parts of the country, counties are weeks behind in recording deeds.

When do you get the keys to the house after closing?

In those situations, closing happens when the money changes hands, the deed is drawn, and all conditions of the contract have been met. In some cities, buyers don’t get the keys until the title company has confirmed the deed has been recorded.

When do you have to move after closing on a house?

In some parts of the country, buyers give the sellers a day or two after closing to move. Sometimes sellers rent back from buyers. If you agree to any delays in possession after closing, be sure the terms for any rent, utility payments, and other concerns are clearly spelled out in writing.

When does a buyer pick the possession date for a house?

When a home buyer picks a house to purchase, the transaction process can be lengthy and somewhat complicated. The buyer possession date, in particular, is often a point of confusion. Some of this has to do with when the seller is vacating, but not always.

What are closing costs for selling a house in Indiana?

Closing is when the home sale is finalized, money is exchanged, and keys are handed over to the new owner. Closing costs are the fees incurred during the transaction and are settled at closing. To avoid writing checks to different entities, an Indiana escrow or title company serves as a neutral third-party at closing.

When do you set a closing date for a house?

Your closing date is the day you become the legal owner of your new home. During the contract negotiation phase, you (the buyer) and the seller set a closing date, which must be listed on the purchase agreement contract.

How long does it take to close on a house for a first time buyer?

Special programs, such as a first-time home buyer program, may take 35 to 45 days. The type of mortgage and the lender have the most impact on how soon closing occurs. If a seller needs more time to move, they can specify this while negotiating the sales contract.

Can a seller move the closing date back?

As a buyer, you may be just fine allowing extra time, especially if you get time for additional inspections or need time to settle you mortgage. However, you may ask for concessions if you are ready to go and the seller wants to move the closing date back. Make sure closing happens without any problems.