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What does possession timing negotiable mean?

You may take possession the same day that you sign your closing documents or you could negotiate to allow the seller time to move out after the sale. An FHA loan allows you to negotiate possession from the seller for up to 30 days after closing. Conventional loans allows the seller to stay up to 60 days after closing.

What does close to escrow mean?

Close of escrow means that both buyer and seller have met the conditions in the homebuying contract and the third party that holds the documents and funds can move forward with the sale.

What does early possession mean?

Early Possession of a home can happen when either the Buyer asks the Seller to grant Buyer Possession before closing, or when the Seller asks the Buyer for permission to stay past closing. This is also known as Possession by Seller and needs to be granted before settlement.

What does anticipated possession date mean?

The possession date is the date the buyer will receive the keys to the property and can officially move in. Often the possession is the day following completion strictly to allow time to ensure the transaction closes.

What does possession mean on Zillow?

In a real estate transaction, possession occurs when the buyer takes ownership of a property after signing closing documents. After the sale is recorded with the local government and the purchase funds have been received by the seller, ownership of the property is transferred to the buyer.

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