Condo/House Closing And Receiving Keys

[iggyntangs]

As per fotze's advice.

[ken0042]

Have you spoken to your realtor about that? I know when a buddy was moving there was a similar situation, and the realtors worked it out.

[Winsor_Pilates]

If you're meeting your lawyer tomorrow there's a good chance they can close it by Thursday and you can get key release by Friday morning.
Tell them your situation when you meet them and they should be able to expedite things for you.

Your agent should also be able to pick up the keys in advance of Friday morning and hold them in trust until they receive word the deal is closed and keys can be released.

Lawyer closes early>agent gets word early>gives you keys early
All done

[onetwo_threefour]

As long as it 's not a brand new condo, you may be okay, but make sure you ask your lawyer to see if he or she can help.
The best way they can do that may be to call the other lawyer and discuss the elevator booking and see if the other lawyer can talk to their client about possession first thing in the morning if the cash shortfall can be sent over before 9 AM or even tomorrow afternoon. While there are no guarantees, if I was acting for the Seller and the Buyer's lawyer called me and described the situation and took the steps I have mentioned, I would typically tell the Seller that their risk is pretty low and they are pretty safe to grant possession. Ultimately, it is the Seller's decision, but most will listen to that advice.

[iggyntangs]

Thanks everyone for the advice.

The issue is my realtor is currently out of the country until Thursday morning, so is hard to reach.

However I took onetwo_threefour's advice and I contacted my lawyer's office this morning, and told them of the situation.

They told me that if the condo is currently vacant (which it is) an agreement should be able to be made by them sending the cash shortfall by Thursday afternoon so that the keys can be released for us Fri morning.

She's going to contact the seller's lawyers and get back to me and let me know.

Fingers crossed, thanks for the help so far guys!

[troutman]

Possession is normally around noon or early afternoon, but most lawyers are very reasonable in negotiating alternate terms. Some clients are very paranoid about handing over keys before receiving the purchase price, but there are protections for them, such as a Tenancy At Will and Transfer Back.

[iggyntangs]

Want to thank everyone for their great advice!

Especially onetwo_threefour I did exactly what you said and the seller and their agent relayed to their lawyers that they have agreed therefore we should be good now, thanks again!

[First Lady]

Hope it's not in Rocky Mountain Court.

[bizaro86]

nm

[HOOT]

I love that the OP feel for fotze's comment.