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When Is A Home Considered Sold? Home Selling Process Explained
When Is A Home Considered Sold?
If you’re selling your home, you may be wondering what steps are factored into the home selling process.
Selling a home is definitely not like selling anything else. There are contracts to sign, home inspections, contingency home sales, and home buyer loans that need to be approved.
How long does it take for a house to go from pending to sold?All this can leave a home seller wondering, “When is a home considered sold?”
When is a home considered sold? Technically, a home is not officially sold until the home seller no longer has ownership. This means the deed of the house has been legally recorded, money for the home has been disbursed, and the deed is in the home buyer’s hands.
This seems simple enough, but the actual home selling process is far more in-depth and can take quite a bit of time.
For instance, there are state laws that could even derail a home sale.
What does this all mean? Home sellers need to know the home selling process fairly well in order to protect themselves and their home. Let’s take a closer look.