💼 Ensuring a Smooth Closing: Keys and Funding Explained
A Happy Family Gets the Keys to Their New Home
Many buyers don’t realize they might not receive the keys to their new home immediately after signing closing documents. In those final days before closing, unexpected delays—especially with funding—can turn a smooth transaction into a stressful one. At Jean Scott Homes, we prepare you for every step, including this often-overlooked detail.
🔑 The Final Step: What Is Funding?
Signing paperwork may feel like the finish line, but another step follows: funding. This process—also known as the closing of escrow—involves transferring money before anyone hands over the keys. Most of the time, funding wraps up within an hour after signing, but certain situations or end-of-month closings can push it back.
How Funding Works
After you sign your closing documents, the title company sends them to your lender. The lender checks that all documents were completed correctly. If everything looks good, they issue a “funding number” to authorize the release of funds—typically your down payment, closing costs, and the loan itself. Once the seller receives those funds, you can collect your keys.
When Do I Get the Keys?
You officially own the home once the title company sends the sale proceeds to the seller. At that moment, escrow closes, the transaction funds, and your Realtor® can hand over the keys.
Why Delays Happen
Lenders and title companies often face a rush near the end of the month. As a result, funding can take a few extra hours—or even stretch into the next business day. You can help speed things up by calling your lender after signing. Sellers should also check in with their title company to keep things on track.
🏦 Extra Steps for REO Properties
REO means Real Estate Owned—typically bank-owned properties taken after foreclosure. These deals often include extra steps. For example, many banks won’t approve funding until they receive original, signed documents by overnight delivery. That requirement alone can delay key delivery by up to three business days.
📅 Plan Ahead & Get Your Keys
If you hope to move in shortly after signing, tell your Realtor® early in the process. They’ll work with your lender to time funding properly, set realistic expectations, and develop a backup plan if delays arise.
📦 Planning Your Move
This Family is Thrilled Moving into Their New Home
This family feels thrilled to move into their new home—and it all started with a well-planned closing day. When funding stays on schedule and communication flows smoothly, move-in day turns into a celebration. Getting the keys marks more than a transaction—it begins a brand-new chapter, full of excitement and potential.
Unpacking boxes while the kids explore their new rooms might be your first memory in the new house. Or maybe you’ll kick back on the patio for a well-earned moment of peace. Either way, the moment becomes unforgettable when everything goes according to plan.
Your Realtor® will help you close with confidence. Have questions about moving trucks, key handoff timing, or special requests? Speak up early. Even small details matter. The more you share, the better your agent can support a smooth transition.
After all, the best move-in days let you focus on enjoying your new home. 🏡✨