The moving truck is backed in the driveway!
The movers are being paid by the hour!
If we do not unload soon $^%#%@^^!
In NC the contract states that the transaction is not closed until the deed is recorded, so it creates an opportunity for insurance providers and lenders to dispute who owns the property if a catastrophe occurs before the deed is recorded. (Fire caused by buyer, injury on the property .......)
I once had an attorney representing the buyers of one of my listings and he was not going to be able to record the deed until Monday. It was currently 1pm on Friday. The court house did not close until 5pm. He said give them the keys it will be fine. So I handed him the keys and told him to give them to the buyers that I was not going to be liable if something happen. He said no, no so fast it would make your head spin. He knew that a lot of liability can fall on the one that handed over the keys to the buyers if something happens before the deed is recorded. When the buyers witnessed his reaction to my reply to him the tables were turned and the deed was recorded on Friday.
The timing of the keys is one of the first things I discuss with buyers and sellers day one so that they plan for it. They can also pressure their lender to fund ASAP because that is normally what delays most attorneys from getting the deed recorded on the same day.
Never close on Friday or the day before a holiday and set the earliest morning time possible to give the lender and attorney as much day light as possible.
If you want to avoid having to meet your clients later in the day with keys let them use a lock box and put the key in it. Once you know the deed is recorded call them with the combo and pick up the lock box later.
"Caring for all your real estate needs every step of the way"
Karen and Wendell Hodge
Greensboro NC Real Estate Agents with REMAX of Greensboro
www.YourTriadRealEstateAgent.com/
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