Closing and possession are two complicated terms of a real estate contract. If you have never bought a home, you might assume that you always get the keys for your home (possession) at the time of closing (when a buyer officially owns the home).
But it's more complicated then that. Depending on the specific contract, the writing may allow for a delay contingent on the loan status.
So is a possession delay a good or bad thing? Depends on your prospective!
Watch to learn more:
Have questions? Don't hesitate to contact us!