When buying real estate in Charlotte NC, a common question is when the buyers will be given the keys to the property.
Buyers don’t necessarily get the keys to Charlotte NC real estate at the closing table. In NC, a Charlotte NC real estate purchase isn’t officially “closed” until the deed has been recorded with Mecklenburg County. So while buyers and sellers sign documents (usually at an attorney’s office) at a closing table, that purchase doesn’t become official until the deed is recorded.
For many Charlotte NC real estate closings that happen in the afternoon the deed isn’t recorded with the county until the next business day. This can become increasingly troublesome with Friday closings – if closing happens late Friday the deed won’t be recorded until Monday!
This is important because many buyers prefer to move into a Charlotte NC home over a weekend, but if closing is on Friday afternoon, you won’t have the keys to that Charlotte NC home until Monday.
The reason for this is that until the deed has been recorded the sellers still own the property. If buyers have possession but sellers are still technically the owners, a TON of “what ifs” come into play and many sellers won’t allow buyers to take possession of those keys until they know the deed’s being recorded.
So when purchasing Charlotte NC real estate, it’s important to consider when you’ll be able to have the keys. Although Friday afternoon may be a preferable closing time it can cause delays in having access to move your stuff into that house!
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Copyright©2008 by Diane McDermott, All Rights Reserved, “Keys At The Closing Table – Not Necessarily”