Legal Question in Real Estate Law in California

Re: REO Handing over of keys

Signing "Escrow Papers" does not mean your friend owns the home. Your friend does not "own" the home until escrow closes. I hope your friend is represented by a real estate agent or some other professional (who should have advised him or her of this fact) because by the nature of the question you asked, its real clear your friend is completely ignorant of how real estate transactions work. Frankly, if your friend did not read the purchase agreement (which will provide when possession of the home is to be transferred to the buyer - often two days after escrow closes) to know that he cannot have possession until the sale closes escrow, then your friend probably has no business buying a home. The Purchase Agreement sets out a lot of obligations and rights and if your friend has not read and understood them, your friend may well be in for a very big surprise down the road. I STRONGLY encourage your friend to seek some professional assistance before it is too late.

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Re: REO Handing over of keys

There is something lost in translation here from friend to friend to friend.