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When Does Possession Transfer?

by The Colorado Springs Group™

Officially the house keys are normally handed over at closing, once there is a delivery of deed (DOD).

It can take a few days for things to be recorded with the county assessor, but that's usually not required for a buyer to take possession.

When possession should not transfer is at any point before the loan is funded and everything is signed. There is so much risk in allowing a buyer to move in early, or giving the keys over beforehand. It does happen where the closing happens but the money never comes from the lender.

Can you imagine giving the keys to your house to someone only to find out a day or two later that they can't actually buy the house? Even if you're confident in the lender and the closing just happened late in the day, do not give the keys over until it is funded. We have known Realtors to give the keys to the buyer to start moving in. What happens if there is an accident or someone gets hurt during moving... whose house/responsibility is it?

2012 April Sales Activity

by The Colorado Springs Group™

Broken down by area to give a better prospective on the results from April. Single Family & Patio Homes

Black Forest: 12 Sales for a total dollar volume of $4,447,280

Briargate: 52 Sales for a total dollar volume of $14,471,353

Central: 47 Sales for a total dollar volume of $8,576,751

East: 53 Sales for a total dollar volume of $8,669,050

Fountain Valley: 83 Sales for a total dollar volume of $13,176,795

Falcon - Peyton: 47 Sales for a total dollar volume of $10,032,137

Marksheffel: 12 Sales for a total dollar volume of $2,429,524

Northeast: 75 Sales for a total dollar volume of $15,950,424

Northwest: 26 Sales for a total dollar volume of $8,045,450

Northgate: 26 Sales for a total dollar volume of $9,360,294

Old Colorado City: 20 Sales for a total dollar volume of $3,191,683

Powers: 84 Sales for a total dollar volume of $16,782,043

Southeast: 40 Sales for a total dollar volume of $5,402,250

Southwest: 51 Sales for a total dollar volume of $16,149,647

Tri-Lakes: 35 Sales for a total dollar volume of $12,890,349

West: 19 Sales for a total dollar volume of $3,891,700

"Based on information from the Pikes Peak REALTOR Services Corp. ("RSC"), for the period 4/1/2012 through 4/30/2012.  RSC does not guarantee or is in any way responsible for its accuracy.  Data maintained by RSC may not reflect all real estate activity in the market."

 

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The Colorado Springs Group™
6665 Wild Indigo Drive
Colorado Springs CO 80923
(719) 799-3686

Kevin & Jessica
The Colorado Springs Group
6665 Wild Indigo Drive
Colorado Springs, CO 80923
(719) 799-3686