Can a bank withold a Florida home buyers keys after closing?
Not in my book...UNLESS the buyer agreed to allow the bank to withhold keys IN THE CONTRACT! Yet, most Central Florida Real Estate Agents still think that the bank is the "almighty powerful" forever and ever... even after the closing and funding.
Who cares what the bank or the listing agent WANTS OR THINKS after the buyer closes and funds? I don't, because it is now the buyers property. Typically keys are given to buyer at closing table.
Analyze this Home Buying Scenario:
Buyer buys a foreclosure and the deal is closed but the listing agent is still holding the keys and telling the buyer that they cannot move in until some clerk at the bank says it is OK to move in. (This happens all the time in Central Florida)
Meanwhile, someone steals the copper and all the appliances from the house...is the listing agent responsible because he is still holding the keys and the only one that has access?? HE COULD BE!
Is the bank going to be responsible? For sure not! The bank will probably not respond at all or maybe even deny knowledge of the listing agent holding the keys.
Lets get real...the purchase contract sets the rules until the closing and funding of the property. After that, the property belongs to the home buyer to do as they wish...everyone else...including the real estate agents, need to step aside.
Copyright @ Buyers Broker of Florida 2012 "Can a bank withhold a Florida Home Buyers keys after closing?"