Home Sweet Home

When can I move in?

From state to state the real estate details in a sale differ. Even within the same state, from one region to the next it can be different.

In the northern Illinois area, the buyer typically gets possession of the home at closing. After the money has been exchanged from buyer to seller - or once the mortgage has funded, the buyer is now considered the home owner.

As the new home owner, you get the house keys and it's your home now!

Occasionally a seller will ask for a "rent back" situation. This would be where the buyer allows the seller to stay in the home after closing for a specified time period. A rent back price is agreed upon and is put in writing. Most buyers prefer not to do this. They want possession and to move in right away.

Sometimes a buyer will ask for early possession of the home, to move their things in. This is usually declined by the seller. If for some reason the closing does not happen, your things are now in their house - and problems surround this situation.

The day of closing, the home you are buying should be empty of the seller's possessions. After the real estate closing, you are the new owner and it's all yours!

Jim Starwalt

Thinking of making a move? Log onto my website at www.StarHomeFinders.com and search the Multiple Listing Service from over 150,000 homes for sale. Registering is quick and easy!

Jim Starwalt, Broker Associate RE/MAX Center, Phone: 847-548-2625 Jim@StarHomeFinders.com