When you are getting ready to move, you have a lot to think about. The closing date is often something that comes up during this time, but who actually controls the closing date? During relocation and home sales, many people just aren’t sure if the buyer or seller controls this choice.
As you probably already know, when you make an offer on a home and are preparing to move, you sign a contract with the seller. The contract is a binding agreement and will determine the events that must occur before your escrow account can close. The closing date is often specified in the provisions of this contract.
While many people think one party or the other declares the closing date, it is actually determined by both buyer and seller. When moving, everyone wants a date that is conducive to their schedule, so buyers and sellers work together to choose a date that works for everyone. Remember, the closing date should be reasonable and allow for enough time to obtain a mortgage, deal with property inspections, and so forth.
A good closing date means that both parties understand and agree to their respective responsibilities for the move to happen. Before you can select a date you must make a list of all the tasks you both need to take care of. This way, you’ll be able to calculate a sufficient amount of time for the whole process and in turn make the move.