We are going to talk about the topic that has come up to me over the past few weeks. And I just want to clear the air. When do I really move out in closing? So the topic is around closing and the transition or transferring from one property to another. So I’ve heard it from people in the office. I’ve heard it from some of my clients in dealing with a couple of issues. And there’s confusion around when possession changes. This is something that in the state of Missouri unless explicitly discussed or explicitly changed: POSSESSION CHANGES AT CLOSING. So if you are a buyer and you are purchasing a piece of property, you obtain possession when you sign on the dotted line, the seller comes right after you, signs on the dotted line. You have a fully executed contract, everything’s signed, money is transferred. Possession at that moment becomes yours on the same token as a seller.
This is, I think, where the misconception comes into play. As a seller, there are people who believe that you have an amount of time. Maybe it’s a week, maybe it’s a month of time after closing to move and get transitioned from one property to the next. This is not the case. In the state that you are no longer in this house and you now have access to this house at closing. And so planning everything around that, the closing date is something that’s set at the very beginning.
We’ve made arrangements to do the things necessary in order to leave this property and take over this property, or whatever that looks like for you to ensure a smooth transition. The last thing that you want to do is a last-minute rush around trying to get everything taken care of.
Fun Fact: I would like to tell you a story about when my wife and I bought our first home. So, we close on Friday afternoon and we moved into our new home. We are excited! We believe, my wife and I, and our agent thought that we are all set. Our agent didn’t mention it because maybe he thought that we should know it. But hey, we didn’t call to transfer the utilities in our name and turn it on.
So it was 4:50 on a Friday afternoon. We called the utility company. We had to do a couple of things in order to get everything turned on. And we actually didn’t get a call back into them until like 5:02, 5:03. Well, they didn’t wait around on us. So the first weekend of our home, we actually enjoyed it with no power. We actually got to take warm showers for the first night, which was nice. But then after that, the hot water became cool water or room temperature, water. And we lived by candles at night. And it was a fun experience for the first weekend of living in our new home, something I’ll never forget.
I’ll never forget that piece of it. And so relaying those things to your clients to make sure that they know and understand what you’re talking about. I should not say things like possession at closing. I should say, “Hey, at closing you’re going to have to be out of your house, and you’re going to be able to move into your new house,” or, “at closing, you’re going to be able to transition over, make sure you have utilities on and make sure everything is set in place for you.”
Those things, those things are important so that we can ensure a smooth transition and finalize that process on a good high note. Anyways, Real Talk, Episode nine, just daily things that happen here with me and bringing in and shedding some light on you.
Hey, you know, what I would love is if you’re watching and have an experience similar to this or something that you’d like to share, drop a comment or just send me a message. I’d love to converse about that and just see where that takes us.
I hope you’re doing well! Until next week. I will see you around and see you again. Have a good day!