shadokeeper

FHA Closing costs

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Ohio seems to be a "wet" state, i was under the understanding that the sellers would get there funding on the closing date. So I want my darn keys on closing lol. See we have already met with the loan guy and signed all of the papers, all we have to do is give him our Bank check for the Down payment and closing costs and we take posession. The loan officer told us he does nto use any formal process, we met with him and the escrow company and signed everything last week; he told us that we just need to have closing costs and down payment to him on or before the 26th...

Kudos to you guys as usual this site is a plethera of information :)

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Didn't you say in another thread that the realtor is representing both you and the seller or something like that? I'd say she's more in the seller's corner, if ya know what I mean.

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Well we signed buyers Agency with her sating that she is representing the Buyer. We are buying FSBO once that came to be her focus seemed to change from us to them cause they are paying her...

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As a realtor, I don't understand why she is holding the keys. I know that in the state of Delaware that the buyer takes possession once the deed has been recorded. Right after closing the attorney takes the paperwork to the courthouse to be recorded and processed in 24 hours. If you don't understand, you have every right to call her broker. If you are not happy, please tell her what your expectations and opinions are of her for not meeting all of your needs on your behalf. All agents are not like that. Please don't think that also.

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This ladie is one of a kind, she has given us nothing but greif since we our offer was accepted, i feel she did not earn her comission. She has done nothing we contacted the title agency, we found the house. The only thing she has done is contact the sellers with our questions and she did not do what we asked of her then either. So we started dealing witht he sellers directly via email, i have a plan to contact her broker and talk to him about all of this...

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In my experience, we were not given the keys until it was recorded as well.

We had signed docs and then had to wait a few days. I believe our realtor went ahead and gave us the keys anyway but told us she would let us know when it was recorded.

I will never forget that day. It was a Friday, we had taken the day off work expecting to move that day. We had the trucks loaded up and were just basically sitting around waiting for a phone call.

I don't think Ive ever been so impatient in my life, calling the realtor/title co/recorders office, every 20 minutes or so. :oops:

We had actually stopped by the new house and found that the front door was unlocked...it was VERY tempting to just move everything in anyway.

We finally got the okay...the realtor seemed almost elated to be able to get me off her back.

It was frustrating, exciting, nerve racking...everything. Luckily I dont have any plans to go through it again anytime soon. ;)

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The realtor just emailed me finaly she said we would get the Keys by 6:00pm on the day the title transfers... Not sure what that means...

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I just closed on a house in Ohio. I got the keys at the closing table.

It sounds like you're doing things a bit non-standard, though, in that you say you already signed all the paperwork but haven't handed over any money for closing costs or downpayment, like you did a dry close with no money changing hands. Possession absolutely can not transfer until the loan is funded, which can't happen until you hand over the down payment and closing costs.

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Well my friend the realtor informs us that we can not take posession of the home untill the title transfers at city hall... the day after closing, I am jsut going to resign to the fact that out realtor is a douch and a real C U next Tuesday! I agree we should get the keys at closing! Why does she have the keys any how?

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Why does she have the keys any how?

Because she is the KEY MASTER!! Bwahahahahaha. :twisted:

Sorry. :?

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Possession absolutely can not transfer until the loan is funded, which can't happen until you hand over the down payment and closing costs.

So we sent the funds for down payment and closing costs on Monday the 23rd we called today to see that status and the title company says the loan has not funded yet... and the title will not transfer untill tomorrow. I am gonna puke... I am getting all "freaked"out lol

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So we sent the funds for down payment and closing costs on Monday the 23rd we called today to see that status and the title company says the loan has not funded yet... and the title will not transfer untill tomorrow. I am gonna puke... I am getting all "freaked"out lol

Im assuming you are done throwing up and now in your new home? :)

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OMG yes we are all moved in! Still unpacking some things but we are getting settled, I can finally relax! Untill the billd start rolling in lol... Thank you all for all of your help, and support!

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I think everyone has the same feelings as shadokeeper. I know I did. I did not get my keys until they recorded the deed in my name. My realtor put the key under the rock in the front yard, and said to wait til she called me. My loan officer said go ahead and move in anyways, shes going to be calling you in a few hours anyways. So I did, we are all impatient because we have waited years to get to this point.

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I think everyone has the same feelings as shadokeeper. I know I did. I did not get my keys until they recorded the deed in my name. My realtor put the key under the rock in the front yard, and said to wait til she called me. My loan officer said go ahead and move in anyways, shes going to be calling you in a few hours anyways. So I did, we are all impatient because we have waited years to get to this point.

This is directly dependant upon in which state you are closing. In Florida we are a "table funding state" which means the funds and the keys are exchanged at the closing table. If you do not have the funds, you do not close. Its a much more civilized way to close IMO. :mrgreen:

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That is state specific. In PA, you do a walk-through hours or minutes before closing to make sure fixtures were not removed, that the place is "broom-clean", and that you did not miss any serious defects. Then you transfer money, title, and keys at closing. You then have full ownership rights to the property immediately.

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Yeah here in California, they do the funding, then when that goes through they go to record, then you can get the keys. Which is usually the day after, in my case funding came through on Friday, went to recording on Monday, received keys on Tuesday. Took Forever!

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In Ohio when I closed......my broker and realtor was there with the sellers. My broker handed the sellers a check for the full amount....and I was handed the keys. My house was already empty so I was able to move in that day.

It was the best feeling in the whole world. Almost 2 yrs later, I still get chills when I look around thinking "this is all mine"

Almost as awesome....the sellers left me a beautiful crystal bowl with a huge welcome note laying on the kitchen counter with some flowers. (they are our next door neighbors)

shadokeeper. congrats on the home.

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