Closing vs. Settlement (Once Again)

Once again this is a very confusing item, especially to first time home buyers. Lots of buyers make a mistake thinking they would get up from closing table, signing paperwork, get the keys and go move in.

Your Agent should explain to you up front on the day of the offer. Pull out a calendar, look at the dates yo are proposing. If you settle/close on Friday, the Buyer will not get the home until Monday or Tuesday, that is if Monday is not some type holiday. If you want to move on a weekend, I recommend to close on Wed. or Thurs.

There are lots of items to consider which is beyond Agent's control, for instace non conforming loan may ake even longer to close.

If I represent sellers, I do not recommend to give a possession to buyer before the house closes. Does it happen? yes. Is it risky? yes.