2006-11-22 11:40:04 · 10 answers · asked by Steven B 1 in Business & Finance ➔ Renting & Real Estate
It means the same as immediate occupancy, as soon as you close (if buying) or sign your lease (if rent/lease), you can move right in.
2006-11-22 11:58:24 · answer #1 · answered by Yote' 5 · 2⤊ 0⤋
Immediate Possession
2016-12-28 04:17:52 · answer #2 · answered by ? 3 · 0⤊ 0⤋
IMMEDIATE POSSESSION MEANS JUST WHAT IT SAYS, YOU MAY MOVE YOUR FURNITURE IN AND LIVE THERE. THIS HAS A SSPECIAL APPLICATION ONLY IF YOU ARE BUYING THE PROPERTY. IMMEDIATE POSSESSION DOES NOT MEAN THAT YOU IMMEDIATELY RECIEVE THE TITLE TO THE PROPERTY. THIS MUST BE ACCOMPLISHED AT A "REAL ESTATE CLOSING". I WOULD STRONGLY ADVISE THAT YOU ENGAGE A COMPETENT REALLTOR TO REPRESENT YOUR INTERESTS IN THIS CASE, IF THE SELLER DOES NOT HAVE ONE. REMEMBER, THE SELLER PAYS ALL THE EXPENSES OF THE SALE, NOT THE BUYER. IF YOU ARE TAKING OUT A MORTGAGE, BEWARE OF "POINTS" AS ALL THIS IS IS AN INTEREST"RIP OFF" TO COLLECT MORE INTEREST THAN THE RATE QUOTED TO YOU IN YOUR CONTRACT. YOU HAVE THE LEGAL RIGHT TO "SHOP AROUND" FOR A MORTGAGE, FROM THE COMPANY OR BANK THAT OFFERS YOU THE BEST RATE. IF THIS INVOLVES CONSIDERABLE MONEY, YOU MIGHT CONSIDER HIRING A REAL ESTATE LAWYER TO SAFEGUARD YOUR INTERESTS GOOD LUCK JOANN CPA
2006-11-22 12:24:33 · answer #3 · answered by Anonymous · 1⤊ 0⤋
the ownership and possession of real estate can be two distinctly different things. one may possess without owning , as a tenant, or one may own without possesssing , as a landlord.
when buying, the issue of possession becomes critical element. ordinarily the buyer wants to possess as soon as he owns, but the seller may wish to have a few days to move after he is certain the deal closed and recorded.
or the place may be vacant so the seller lets the buyer move in before the escrow closes so he then possesses the house without owning it. any combination of these two things may occur.
a buyer may make his "offer to buy" say that he will pay the money in one month but he wants immediate possession so that he can fix the place up to live in before he gets his loan approved and close the escrow. Maybe a buyer wants to paint rooms before the apprasial is done. etc. this may be unwise, but is sometimes done. in this case he would want "immediate possession" so he can get the key and exercise occupancy rights and dominion over the premises before actually owning it. He would then be an "equitable " owner as soon as the contract is signed and a legal owner after the escrow is closed and the deed recorded.
The ordinary possession time when buying would be "at close of escrow" and may have a place on the form to insert some number of days after close of escrow or whatever.
But, if you want to move in right now, for whatever reason, you must insist upon "immediate possession". or move in now.
In rentals the same thing comes up. A landlord may advertize a property as "available for immediate possession". You pay the rent and move in without waiting. This sounds better than advertizing that it is "vacant" This is more common than asking for or expecting to get immediate possession when buying.
2006-11-22 12:10:36 · answer #4 · answered by Anonymous · 0⤊ 0⤋
A cul-de sac is an extended circular area at the end of a paved road in a development. It goes to the last house(s) at the end of the drive so cars can easily turn around and head back out. It's basically a "turn-around" TLC means tender loving care. It means the property just needs a little touch-up repair and a steady maintenance program. Fixer-upper basically means "as is," which means it is in need of a lot of repair and fixin' up.
2016-03-18 11:16:16 · answer #5 · answered by Anonymous · 0⤊ 0⤋
What Does Possession Mean
2016-09-28 08:39:47 · answer #6 · answered by ? 4 · 0⤊ 0⤋
As above, This is usually because the original owners have already moved out or can do so immediately. In other words, you don't have to wait for them to find somewhere else to live, they've already sorted that.
2006-11-22 12:03:53 · answer #7 · answered by Anonymous · 0⤊ 0⤋
It means that - at closing - immediately upon you providing a certified check for the purchase price - you get the keys and can move right in. If they have not moved out, then you do not get keys at closing, but on a later date as specified in the contract.
2006-11-22 12:10:14 · answer #8 · answered by Anonymous · 0⤊ 0⤋
It usually means immediate occupancy
2006-11-22 12:03:32 · answer #9 · answered by cindyrose 2 · 0⤊ 0⤋
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Cul-de-sac is a dead end street. TLC= Tender loving care needed Fixer upper is it needs a lot of work. Hope this clears it up for ya.
2016-04-01 04:46:55 · answer #10 · answered by Michele 4 · 0⤊ 0⤋