Settlement Dates

October 9, 2008

The final settlement date is the happy occasion when the buyers take possession of their new luxury home and the sellers get their money. If every detail of the transaction has been worked out, the settlement should be uncomplicated. Occasionally, however, unresolved issues arise that interfere with the settlement schedule.

Questions may come up about liens that were paid, but not properly recorded. Something in the buyer’s credit history may have to be clarified. The buyer and the seller may need to resolve details over repairs and contingencies. There may be issues with the appraisal. Even if these situations don’t cause the transaction to fall apart, they may delay your moving schedule so be flexible in case your settlement date or time must be changed.

Your real estate agent will keep you up to date on the progress of your settlement in order to inform you of unexpected delays and minimize any potential inconvenience.