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Old 08-13-2013, 09:48 PM
 
Location: Scottsdale, AZ
1,987 posts, read 3,785,721 times
Reputation: 2888

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Quote:
Originally Posted by jons_wifey View Post
they told me not until the loan has been funded and recorded.
Recorded is the operative word. Until the new deed is recorded with the county the property is not legally yours. In today's electronic world the title company sends the documents to the county and gets a confirmation of receipt. This is when you get your keys. The actual update of the public record could take days, weeks, months depending how quick they process the data.
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Old 08-14-2013, 11:15 AM
 
Location: Bloomington IN
5,860 posts, read 7,082,141 times
Reputation: 14068
As in most things related to buying/selling property, there are local conventions that dictate when you will receive the keys. To say that you won't get the keys until it's recorded may be applicable in some areas, but it's not a hard and fast rule.

I've been involved with "dry closings" to use the local term for closings that are not funded. A couple of things could have happened that are beyond the control of the title company or Realtor. Some are in the control of the lender. Some maybe due to lenders operating in different time zones. Some are things that can't be controlled. The lender could be operating in a different time zone and did not requested the wire in time for your closing. It could have been a very busy day for wire transfers which would back things up for several hours. Again, this is nothing you, your Realtor, or the title company can control.

Wired funds don't instantly show up in accounts. It can take several hours to several days for the money to show up in the correct accounts. Wired funds go through a system operated by the Federal Reserve.

In my area, keys were usually handed over when the loan was funded and the checks for the seller and agents were written/signed.
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Old 08-14-2013, 09:00 PM
 
118 posts, read 378,851 times
Reputation: 95
I know you're panicked because everything has been step up to move but if you can stay put in your current housing situation you can always reschedule your appointments... Ive had to reschedule a Uhaul truck before. They were very understanding and didn't charge me extra or anything.
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Old 08-15-2013, 08:00 AM
 
Location: 78250
923 posts, read 2,075,071 times
Reputation: 333
we moved in yesterday!!! finally got the keys around mid-day after the wired funds cleared.
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Old 08-15-2013, 09:02 AM
 
118 posts, read 378,851 times
Reputation: 95
yay congrats!!!
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Old 08-17-2013, 06:14 PM
 
Location: Atlanta
330 posts, read 926,081 times
Reputation: 252
Quote:
Originally Posted by Wmsn4Life View Post
At this point you haven't really closed so the county won't have anything yet.

Your agent should be on top of all this for you. You should not have to call anyone.
agreed !! Your agent should be answering all these questions for you.
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