Getting the key to my next house earlier than expected, requires the seller’s full written permission. In your purchase contract, you’ll have negotiated a moving day – the possession date. The offer will clearly outline the exact day and time you’re entitled to the keys to your new home. The moving day is a significant point of negotiations when you make an offer. Because the offer is a legally binding contract the seller is not obligated to pass over the keys early. That means even if the home is vacant or they have moved out early. Your offer is a contract and the seller has the option to be a stickler on the date.
Besides negotiating an amendment to your purchase contract for early access. There’s a matter of liability and insurance. Most sellers are uncomfortable with giving the buyer full access to the property while it’s under their insurance. If something were catastrophically wrong, the seller would still be fully liable for their insurance. There is also the matter of payment. Most sellers feel strongly about holding on to the keys until the home is fully paid for. The issue of getting the key for your next house earlier might seem simple on the surface, but the underlying issues are valid and complex.
Your best bet for early move-in is securing a bridge loan so you can pay for the property before the sale closes on your current home. Or if you’re not coming out of a home you’re selling, plan to negotiate in some extra time on your possession day.
