Posted by: Roby Robertson | July 3, 2008

When do I get my Money or Keys, Buying or Selling your Lake Norman Home

Two Questions I get asked about closing on Lake Norman Property

1. Lake Norman Buyer Question:  When do I get the keys to my new house?

2. Lake Norman Seller Question:  When do I get the proceeds from the sale of my house?

The answer to these questions are not really specific to the Lake Norman area.  The answer to these questions are dictated by the state of North Carolina.

When do I get my cash from my Lake Norman Home?

Selling your home?

Both of the answers deal with the closing of the sale. In North Carolina everything really revolves around the successful recording of the deed. Ultimately sellers do not get any cash proceeds until the closing is recorded at the courthouse in the county where the home resides. In other words, unlike some other states, sellers are not given a check at the closing table.

Usually the closing attorney (selected by the buyer) has options for the seller. The check can be picked up at the office, mailed to the seller or deposited directly into an account. Bottom line however is this. The attorney probably makes one or two trips to the courthouse a day for recording. If you close in the morning, you may be able to get the check by late afternoon. Close in the afternoon, your not going to get your proceeds until the next day.

Lake Norman, When do I get my keys?

Buying a new home?

‘When do I get the keys to my new home?’

Again, this is tied to the closing of the sale. However, depending on the seller and/or the agent, this decision can be altered.  Often the buyer has a truck arriving with furniture or has made plans to go immediately from the closing table to the home to begin the moving process.

However, the seller has every right to delay allowing the keys to transfer until the successful recording at the courthouse.  This is actually a protection for both parties.  I heard of a story where a buyer began the move and sometime came up with the recordation.  The seller had a horrible time getting the buyer out of the house because of the difficult eviction process that had to occur.

Much of this can be overcome with the use of a reliabe agent.  Careful planning and coordination can alleviate buyer frustration with the seller wanting to delay the transfer of keys.  Everyone must remember that everything is done of the protection of both parties and the real estate agents should be on top of and acutely aware of possible scenarios.
 
For assistance with these an other Lake Norman Real Estate matters please contact your Lake Norman agent at 704 451 7051.

Common Myths about working with Lake Norman and Charlotte Real Estate Agents

Be The First To See Lake Norman Hot New Listings as soon as they become available.

What would my Lake Norman Home Sell For?

See Also:

Lake Norman Golf and Waterfront Communities

Lake Norman Condos

Living a Lake Norman, A Frame of Mind

Roby Robertson

 

Saving My Clients Thousands

Broker/Owner

 

Real Living In Style
Davidson NC

 

roby.robertson@realliving.com

 

Ph: 704 451 7051
Fax: 704 892 9766

Committed to Saving My Clients Thousands When Buying and Selling Real Estate


 

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