What Happens with Closing Late and Vacating Late
When you sell or buy a home, the process takes considerably longer than picking up a pack of gum at the 7-Eleven. The transaction typically runs several weeks, and the shortest it’s ever likely to take is about seven days, with a typical escrow lasting around 30 days. When you go into contract, a closing date will be specified – but that date is usually several weeks in the future. With so many moving parts to a real estate transaction, it is possible that the actual closing date will not hit the initial contractual closing date right on the head. The sale could close a few days early, but it’s much more common for a sale to close late by a few days. But what happens if that’s the case? Watch this episode of Seb Frey TV to learn about what happens in the event of a late closing – and also what happens if the seller is late to surrender possession of the home, as I just recently experienced.
