Closing vs Possession
Closing refers to when both parties are signing the closing documents. Signing closing docs usually takes about 15 minutes for sellers and about 1 hour for buyers. Possession happens once all the closing documents have been signed, the funds have been transferred from the buyer’s title company to the seller’s title company and commission checks have been disbursed. Once the deal has been funded, the buyer can then take possession as the property legally become theirs.
