Seller does not sign the deed at closing

[ztuna]

What is the name of your state? Florida
I show up and sign all documents required at the Closing on the closing date. I bring and provide all checks to the agreed selling price. All HUD forms are signed by seller and buyer. Seller is at a remote state but has provided all paperwork signed except (one of 3 sellers) did not sign the correct form (deed). All other documents are signed by the seller(s), three in this case. Title agent claims the deal is not complete and I cannot have the keys to gain access. All the paperwork shows I start paying interest at day of closing. I need access to the house at day of closing. What recourse do I have to gain access to the property? Do I have to wait through the weekend (Closing was on a Friday)? I want the house but want it now without waiting three more days. Can I request all my money back and walk away from the deal?

[nextwife]

The transaction is NOT complete, nor will the buyer's lender issue a "funding authorization" allowing the loan to close UNTIL a completed deed is in the hands of the closing agent. That means that ALL parties in title must have conveyed their interest.

Sounds like the seller's closing agent failed to do their job and have either all parties sign the same deed, or have each party sign a sepertate deed of their interest. It certainly SHOULD have been do-able, unless a seller is infirm and unable to travel to a local bank branch to have their signature notrarized. I've actually pulled off having a deed prepaired, emailed to title office near out-of-state seller, printed out, signed, notarized and expressed back to closing agent AFTER 3 pm the day before closing!

What is the seller's excuse for NOT having all parties signatures? Was there a wayward express letter?

FYI- You and trhe seller CAN come to an agreement to occupy prior to closing.

[GaAtty]

I wonder where the closing attorney was in all of this? Why is the "title agent" doing an attorney's job? Ordinarily the attorney would have reviewed everything before you came and made sure that all was in order. However, you do not need to worry about having to pay interest as of the date of closing, because there has not been a closing. Until title passes, you do not have a loan on the property, because you do not own the property. So relax on that. Next, you cannot have access until it closes and title passes to you, so forget that. Last, you probably cannot walk away from the deal because there is usually an automatic extension clause in the contract, for 10 days (this may vary) in the event of such unforseen circumstances. You would also forfeit your earnest money. Anyway, surely you are not so flighty or frivolous that you would walk away from such an expensive and large purchase just because you have to wait 3 more days. If so, I would wonder why you were buying at all, expecially when you went to all the troube to get approved for a loan. Real estate closings often have glitches such as this. Calm down, and soon it will be yours.

[CuriousKev]

In the State of Florida you do not need an attorney when buying and selling real estate however, I do recommend using one that way things like this are avoided.

[pojo2]

Originally Posted by GaAtty

Next, you cannot have access until it closes and title passes to you, so forget that.

Of course you can if the sellers agree to allow it.

[nextwife]

I agree with Pojo2. If the closing is ONLY awaiting the final signature that the seller failed to have ready, whyt should the buyers incur additional expense? If the sellers intend to promptly correct their negligence, then the docs can be held in escrow for 24 to 48 hours or so until the seller completes what he SHOULD have completed prior to closing. It's one thing to refuse occupancy prior to closing when the buyers have failed to perform,. but in this case, the sellers are facing potentially losing their buyer because THEY didn't have their act together. So a 24 or 48 hour occupancy prior to closing, with the title company holding a sufficient escrow to cover any costs of removing buyers if they then refuse to close, is a wise way to save the deal and treat the buyer's fairly.

[HomeGuru]

good points everyone.