When do I get the keys? Before you do, there are several important dates in a real estate transaction that must occur before the buyer gets possession.
1)     The date the buyer removes their investigative contingency. This is the date on which the buyer and seller have completed any negotiations regarding the property’s condition.
2)Â Â Â Â Â The date the buyer receives loan approval.
3)Â Â Â Â Â The date escrow closes.
4)Â Â Â Â Â The date buyer gets possession.
The residential purchase agreement (RPA) and counteroffers set key dates. First, they outline when escrow closes. Next, they specify when the buyer gets the keys. For example, realtor jargon like “COE plus 3” means keys are handed over three days after closing. Moreover, the selling price isn’t the only focus. Often, closing dates are negotiated. Additionally, possession dates are discussed too.Â
