Possession
When the buyer gets the keys and can move in. Usually the same day as closing but not always. Sometimes the seller stays for a few days after closing under a rent-back.
Your Room opens on going under contract and closing, with the offer and everything before it already ticked.
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See how it worksWhere this comes up: closing
Part 1 of 4
Why a seller cares
Possession is when the buyer gets the keys, and it is not always closing day. The contract says when, and a seller who plans a move around the wrong day has a hard week.
Part 2 of 4
A simple example
Closing is Friday at 10 a.m. The contract gives possession at closing. If the deed records at 3 p.m., the buyer holds the keys at 3 p.m.
| What the contract says | When you are out |
|---|---|
| Possession at closing | The day the deed records, often by afternoon |
| Possession three days after closing | You stay three days, usually under a rent-back |
| Possession before closing | Rare, and it comes with an occupancy agreement |
Possession is a line in the contract. The move-out date is whatever that line says.
Part 3 of 4
What people get wrong
That you can stay a day or two after closing to finish packing. Only if the contract says so; otherwise the home is theirs at recording.
Part 4 of 4 · where to read next
Where it appears in the sale
What a definition is, and what it isn't
Keighbor is a software company, not a law firm, brokerage, or tax adviser. This is general information, not legal, tax, financial, or real estate advice about your sale. Your situation may differ. Before acting on a contract, disclosure, title, tax, or pricing question, ask an appropriately licensed professional in your state.
Written and researched by Keighbor Research · drawn from the reference glossary · how we research and check what we publish
In your Room, this word explains itself where it appears.
Your Room defines possession in the step you meet it in, beside the document or the date it belongs to. Free to set up, with an agent or on your own.
Organize my saleFree to set up. Pay once when you list: $89 or $189. 7-day refund.