Step 9: Put the closing on your calendar

The close of escrow or COE is the day that the home will officially become yours and you will get the keys. This doesn’t happen until it records with the Pima County Recorder’s Office which can be as late as 5:00pm, so keep that in mind when scheduling your move. Ideally you will sign all of the closing documents a couple days in advance of the actual close of escrow. The exact timeline for signing the paperwork usually depends on when the lender has all the documents ready to go. However, when all goes well you’ll sign in advance of closing so you should not need to take that day off of work. We can even deliver the keys to you if need be, although most often we meet our clients at the home for the key exchange once we’ve received notice the transaction has recorded.

Arizona Residential Resale Purchase Contract - COE
Arizona Residential Resale Purchase Contract Lines 21-31

The agreed upon closing date from the contract is the schedule everyone is working towards. However, while the majority of closings happen as scheduled it’s not all that uncommon for delays to occur on either the Buyer’s or Seller’s end. It can be challenging at times when there is a delay since both parties are making plans to move in/out, so delays can certainly be inconvenient. While we do everything feasible to make sure these delays don’t occur, please know ahead of time that unfortunately circumstances sometimes arise that are beyond anyone’s control, so when possible allow for some flexibility with your moving-in schedule.

If you know you’re not going to be in town around the closing we can arrange for the documents to be signed earlier than usual or sent via mail out of state if you’re buying a seasonal home for instance. This is performed with relative frequency but let us know as soon as possible as it does add at least 4-5 days to the closing timeline. We’ll communicate the particulars to the escrow company and they’ll be able to make the necessary arrangements, and the lender will also need to be kept in the loop as they’ll have to provide their documentation earlier than normal too.

Next: What is the inspection period?