Urban Properties Real Estate Blog

When is a home sold? Is it when you see a SOLD flier on the yard sign? No. How about after you get an offer signed? Not yet. Many clients get confused about that word, thinking that once they have an offer accepted (either as the seller or buyer) that the house is sold. The house is only sold once title has been recorded with the County - transferring ownership from one owner to the other. There is much that happens between an accepted offer and the "sold" status. The technical term in real estate for a home being sold is when the agents or escrow say "closed." Listen for that word as well as watch for it on your documents you sign. The Purchase and Sale Agreement will note a Closing Date and you may also have updates to that date on a later addendum,…
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