The transaction is considered "closed" once the deeds have been recorded. Now you own the home. However, it is not always possible for you to take possession immediately. The most common reason for this is that is that the seller may be purchasing a home, too. Usually, their purchase is scheduled to close simultaneously with your purchase of their home.

It is considered customary to allow the seller up to a maximum of three days to turn over actual possession and keys to the home. When transfer of possession actually occurs should be clearly laid out in your offer to prevent confusion later.