Technically, the California Association of Realtors contract states 6 pm on the day the transaction records. Be aware that is not the same day as signing closing documents. I generally give the keys to the new owners once I receive notification from escrow that the transaction has recorded, which …
FAQ for Buyers
Can a seller cancel the transaction?
A seller can attempt to cancel the contract. Should you not agree seek legal counsel. A court ruling could force the sale since you have a binding contract. At the very least you should be reimbursed all your expenses. If the seller cancels the transaction because you failed to perform, and you …
Is down payment part of closing cost?
No. Down payment is part of the purchase price that your lender requires. Closing cost are recurring and non-recurring cost having nothing to do with the actual purchase dollars. Examples of some closing cost would be insurance, taxes (recurring) and one-time cost(non-recurring) that are required to …