{"id":11087,"date":"2023-08-03T15:54:35","date_gmt":"2023-08-03T15:54:35","guid":{"rendered":"https:\/\/foliotitle.com\/?p=11087"},"modified":"2023-08-03T15:54:35","modified_gmt":"2023-08-03T15:54:35","slug":"when-does-the-closing-officially-occur-when-should-the-seller-provide-possession-of-the-property-to-the-buyer-2","status":"publish","type":"post","link":"https:\/\/cloud.titletapsites.com\/foliotitle\/when-does-the-closing-officially-occur-when-should-the-seller-provide-possession-of-the-property-to-the-buyer-2\/","title":{"rendered":"When Does the \u201cClosing\u201d officially occur? When should the Seller provide possession of the Property to the Buyer?"},"content":{"rendered":"<p>Haga <a href=\"https:\/\/foliotitle.com\/cuando-se-produce-oficialmente-el-cierre-cuando-debe-el-vendedor-entregar-la-posesion-del-inmueble-al-comprador\/\">clic aqu\u00ed<\/a> para leer en espa\u00f1ol<\/p>\n<p>The Closing officially occurs when:<\/p>\n<ol>\n<li>The Closing Agent has all the Buyer\u2019s and Buyer\u2019s lenders funds required per the Settlement Statement in the Closing Agent\u2019s escrow account;<\/li>\n<li>The Lender has provided a \u201cFunding Authorization\u201d;<\/li>\n<li>The Seller\u2019s original documents in the Closing Agent\u2019s possession;<\/li>\n<li>All closing, title, and lender requirements have been satisfied<\/li>\n<\/ol>\n<p><strong>When the Closing Agent \u201cin a position to fund and close\u201d, the Seller\u2019s proceeds are immediately available at the Closing Agent\u2019s office via check, and possession of the property should be delivered to the Buyer (meaning, the keys and access cards should be officially provided to the Buyer or Buyer\u2019s representative.) Closing, therefore, is NOT defined as when the Seller receives their seller proceeds, but when the Closing Agent is\u00a0 \u201cin a position to fund and close\u201d.<\/strong><\/p>\n<p>Sellers who request a wire transfer may also request proof that the wire transfer was sent. However, Sellers who prefer a wire transfer should NOT withhold possession of the Property while they wait for a wire transfer to be credited to their account. This is because all banks have a different policy for when they credit the funds to the receiving account; some banks and credit unions make take more than 24 business hours to credit the money to the receiving account.<\/p>\n<p>International wire transfers are not recommended; therefore, Seller\u2019s who request an\u00a0<i>international\u00a0<\/i>wire transfer MUST sign a Hold Harmless Agreement for the Closing Agent. Sellers who wish to receive international wire transfers and sign the Hold Harmless Agreement should be prepared to provide possession of the property to the Buyers once the Closing Agent has confirmed that the Closing Agent is in a position to fund and close.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Haga clic aqu\u00ed para leer en espa\u00f1ol The Closing officially occurs when: The Closing Agent has all the Buyer\u2019s and Buyer\u2019s lenders funds required per the Settlement Statement in the Closing Agent\u2019s escrow account; The Lender has provided a \u201cFunding Authorization\u201d; The Seller\u2019s original documents in the Closing Agent\u2019s possession; All closing, title, and lender [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[30],"tags":[],"class_list":["post-11087","post","type-post","status-publish","format-standard","hentry","category-english"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>When Does the \u201cClosing\u201d officially occur? 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