Home Buying in Broomall>Question Details

M.bailey, Home Buyer in Delaware County, IA

I bought a house it is under agreement of sale with a 4 week settlement. I have my own realtor and the owner

Asked by M.bailey, Delaware County, IA Mon Dec 15, 2008

has a listing agent. The listing agent will not remove the lockbox or mark the property sold? Do I have any right to have the box removed or the sign taken down or marked sold? Is their a rule?Thank you.

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Which home in Broomall are you in contract for? If you give me the address, I'd be happy to find out the status. The home is not yours until the day you settle. Therefore the seller may keep the sign on the lawn and the lockbox up until settlement.
0 votes Thank Flag Link Thu Dec 25, 2008
If your offer has been accepted by the seller, the listing agent should consider putting a "Sale Pending" sign over the "for sale" sign. The lock box will remain until the day of settlement, so that inspectors, appraisers, repairmen, etc., will have access to the property as needed.

There are times when the "for sale" sign remains, even when there is a contract pending. If the pending contract carries a sale of home contingency (meaning the buyer must first sell their house, before buying this one) there is often a clause that allows the seller the right to continue marketing the property, and seek additional offers.

Each situation is different, but once you have actually closed the deal, and the property is officially yours, you are of course free to remove the sign and lockbox.

Have a Merry Christmas, and enjoy the New Year in your new home!
0 votes Thank Flag Link Tue Dec 23, 2008
I agree with everyone below. If you have already closed on the property and taken ownership feel free to move the sign out of site. If you have closed and the agent won't pick up the lockbox, I'd recommend calling their managing broker to get them motivated.
0 votes Thank Flag Link Tue Dec 16, 2008
Hi there!

I just want to touch on the lockbox issue ... oftentimes the lockbox will remain on the property up to the settlement date and for good reason. You and your agent will need access to the property for the home inspection and for the pre-settlement walk-through (which usually occurs the day before or day of). This is a pretty common practice. No worries, once the property goes 'pended' status (all conditions/contigencies have been met), the property is yours, unless you default.

0 votes Thank Flag Link Mon Dec 15, 2008
Terrance is correct. If the house in under contract that it remains as pending until the closing day when the status then gets changed to sold. Check with your agent to see the current status listed in the MLS. If it is pending I wouldnt worry about it. Most agents wont even pull it up the search and not waste thier time showing a property under contract to thier clients.
0 votes Thank Flag Link Mon Dec 15, 2008
Property is not sold until after settlement. That's the only rule. People can still go through the property in the event that something goes wrong and the contract can't be completed. Backup offers are pretty much normal.
0 votes Thank Flag Link Mon Dec 15, 2008
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