Home Buying in Anderson>Question Details

Lynn, Home Buyer in Shasta County, CA

How long after funding will the house close escrow,and I get the keys?

Asked by Lynn, Shasta County, CA Sun Aug 29, 2010

My Lender said that he is funding my loan at 8am monday morning(Tomorrow) !!! How long after that will it close and I get the keys...I am in Northern California...

Thanks so much for any info =)

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All I know is that both my lender and agent both told me that When it closes I will get the keys..Since the house is empty and its a REO I don't have to worry about anyone moving out..So they said as soon as it closes and records I can get the keys from my agent =)

Last week my Lender( I am going through a mortgage company who does thier own funding) said my house will close on Monday...He stayed late on Friday to make sure it funded first thing monday morning...I think his plan is to fund-close-record all on monday...Thats the impression I got friday..He is pretty good at what he does,and he wants to get me into my house asap....

I have to say I have had a really good team of people working for me/with me... They have made this experience a good one...They all want to get me into my house...So they are working fast..
I live in a small town than most of California...so maybe that is working I think to my advantage =)

But I am keeping my fingers crossed that It will fund-close-record all tomorrow...I will be one happy girl if that happens =)
1 vote Thank Flag Link Sun Aug 29, 2010
Lynn,

Your agent should be able to tell you when it closes. Does your contract say by 5pm at close of escrow? Does it say take possession within 1-3 days after close of escrow? Sometimes in CA, you can Fund one day, but it won't record until the following day. The change of possession occur's at recording - not funding.

It can be exhilirating to know you finally got your home!!! Your agent is probably just as excited for you.....I would call your agent to confirm your question receives the correct answer.

Best of luck on your new home!
Web Reference: http://www.weberhomes.info
1 vote Thank Flag Link Sun Aug 29, 2010
o.k. today is tuesday and my new property im purchasing is funding tomorrow when do we get our keys?help please...
0 votes Thank Flag Link Tue Dec 11, 2012
Yeah, its fund monday, record tuesday. What will happen is the escrow company will call you or your realtor and let you know you are on record. Then they will meet with you and give you the key, along with a great closing gife haha. Hey congrats on the home and good luck with everything.
0 votes Thank Flag Link Sun Aug 29, 2010
Thanks so much Scott...I was pretty much hoping that was case,as when my Lender had me in for signing Wednesday he told me it would close on Monday...I just wasnt sure if they Fund/Close the same day..So I guess they can =)

Thanks so much again.....
0 votes Thank Flag Link Sun Aug 29, 2010
Hi Lynn. Although I'm not a CA agent, I cannot imagine them not passing keys to you at funding/closing. They are simultaneous in 99% of the cases. Everything on your deal is signed, sealed, delivered, now the money comes through, they get the proof from the bank wire and you get the keys and go on your merry way.

DRIVE SAFE!!

Enjoy your new home!

Scott
0 votes Thank Flag Link Sun Aug 29, 2010
Yes,we actually signed all the documents on Wednesday...and my lender stayed late friday so he could fund on monday morning..I bought a REO and they already signed,and the escrow company sent over ok for funding letter on Friday..So my lender stayed late on friday so he could make sure it funded on Monday morning =) I am very excited to get the keys to our first home...Could it fund and close on the same day? since he is funding first thing in the morning...Last week after we signed docs he told me it would close on Monday..But I figured it didnt hurt to ask others if that would actually happen,fund and close the same day?
0 votes Thank Flag Link Sun Aug 29, 2010
Hi Lynn. If your loan funds tomorrow and you're going to the closing to sign papers (or have already), then you should get your keys shortly thereafter. If the seller has signed everything already, or intends to tomorrow, then I can't see how you'd have to wait more than an hour or two.

CONGRATULATIONS on your new home!!

GOOD LUCK!

Scott Miller, Realty Associates, Boca Raton, FL
0 votes Thank Flag Link Sun Aug 29, 2010
Hi. Lynn,

If I was your agent, that is the type of question that I would want you to ask me. Have you asked your agent? There is nothing better that turning over the keys to a house to the buyer. Congratulations on your purchase.
0 votes Thank Flag Link Sun Aug 29, 2010
Typically the next business day the property will record. Your contract will stipulate when you get your keys.
Web Reference: http://terrivellios.com
0 votes Thank Flag Link Sun Aug 29, 2010
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