Not sure what you mean by a "grace period". Are you talking about moving in to the property? Here in MN we do not have the held escrow process like they do in other states. Once you close, you officially own the property.
Or are you the seller and wondering if you can have a few more days to move out?? Not sure........
In any event, I'm sure your agent will have the answers you need, but tell us your circumstances and we will tell you what we know!! :)