When will I receive the keys after purchasing my home?

The process: From signature to front door

To understand the timing of the handover of keys to a new home , one must be familiar with the contractual mechanisms. There is no legal "right to the keys immediately after signing the contract."

The principle of "move by move"

Swiss real estate law generally operates on the principle of "step by step." This means: no goods without money.

• The guarantee: The seller will only agree to hand over the keys to the property once the purchase price is irrevocably secured. This is usually done through a payment guarantee from your bank.
• The timing: The purchase agreement specifies a fixed date for taking possession (and thus the handover of the keys to the property ). This can be the 1st of the following month or a date far in the future.
• Synchronization: Often, attempts are made to register the handover of the keys to the property in the land register as soon as the transfer of ownership is recorded. However, it is common practice for the keys to be handed over as soon as the payment commitment is received, even if the land register entry (the legal transfer of ownership) is only finalized a few days later.

Benefit and risk as pacesetters

Legally, the concept of "benefit and risk" is inextricably linked to the handover of the keys to a private home .

• From the moment you receive the keys to your own home , you are allowed to use the house (live in it or rent it out).
• At the same time, you bear the risk of owning your own home from the moment you receive the keys . If the house burns down an hour after the handover, it's your problem (and your insurance company's).

Therefore, it is essential that your building and liability insurance policies are dated exactly to the date of the handover of the keys to your home .

The handover protocol: Your life insurance

The handover of the keys to a new home is more than just a handshake. It's a moment of taking stock.

• Defect check: When you take possession of the keys to your new home, you go through every room with the seller. Does the heating work? Are the windows intact?
• The protocol: All defects must be recorded in the handover protocol for the keys to the new home . For existing properties ("sold as seen"), this is often the last chance to report any outstanding defects that were not excluded in the contract.
• Meter readings: An often overlooked part of the key handover process for a new home is reading the electricity, water, and gas meters. These readings should be recorded in the report so that the utility bill can be properly separated.

Delays: When the appointment falls through

Despite good planning, the handover of keys to a new home can be delayed. The reasons for this are varied and often frustrating.

New construction vs. existing buildings

• New builds: Here, the handover of the keys to your new home is often a "moving target." Construction delays are more the rule than the exception. Make sure that the purchase contract defines penalty clauses in case the general contractor fails to meet the handover date . Without this clause, you'll be stuck with hotel costs or storage fees for furniture.
• Existing properties : With used houses, the handover of the keys to the owner's home usually falls through because the seller does not move out on time or the money has not been announced to the seller's bank on time.

The problem with tenants

Are you buying a rented house? Then the purchase agreement does not automatically mean that you can move into your own home when you receive the keys .

• Purchase does not break a lease: You take over the existing lease agreement. The handover of the keys to the property simply means that you receive the landlord's key.
• If you intend to move in yourself, you must terminate the tenant's lease after handing over the keys, adhering to the statutory notice periods. Be sure to factor this delay into your planning.

Practical tips for smooth organization

To ensure that the handover of the keys to your new home remains a day of joy, you should act proactively.

• Instruct your bank: Ensure that your bank sends the payment commitment to the notary or the seller's bank in a timely manner. Without this document, the handover of the keys to the property will not take place.
• Clarify cleaning requirements: How clean does the house need to be? "Broom clean" is the standard for handing over the keys to a new home , but what does that actually mean? Check beforehand whether the basement and attic have been cleared out. Nothing spoils the handover of a new home more than the previous owner's trash.
• all the keys there? Before handing over the keys to your new home , ask how many keys exist. Are all copies (front door, garage, mailbox) present? If a security key is missing, this must be noted in the handover protocol , as locks may need to be changed.
• Inform your service providers: Order internet, TV, and electricity for the day you receive the keys to your new home . Nothing is more frustrating than sitting in your new house without light or Wi-Fi.

Conclusion

The question "When will I receive the keys?" has a clear answer: Exactly on the date agreed upon in the purchase contract as the transfer of ownership – provided the money is secured. The handover of the keys to your new home marks the end of the transaction and the start of your new life.

treat the handover of your new home keys as a mere formality. Take your time for this appointment. A thorough handover protocol will save you trouble later with tradespeople or the seller. Be punctual with the payment, as the seller won't release the keys until the bank gives the go-ahead. Those who prepare well for the handover can transform a bureaucratic act into a celebratory moment.

If you are looking for a digital template for the handover protocol or want to ensure that your scheduling for the handover of your home is realistic, Loft offers helpful checklists and tools for a smooth move-in.

Glossary

• Handover of keys for a home: The physical act of transferring the power of disposal over the property to the buyer, usually linked to the transfer of ownership.
• Transfer of ownership: The contractually agreed point in time at which "benefit and risk" pass to the buyer. This is usually the date for the handover of the keys to the home .
• Benefit and risk: A legal term for the transfer of economic risk (danger) and benefit (profit). It often coincides with the handover of the keys to a home .
• Irrevocable payment commitment: A guarantee from the buyer's bank that the purchase price will be paid. It is a mandatory requirement for the handover of the keys to the property .
• Broom clean: The usual cleanliness upon handover of the keys to a private home (cleared, roughly cleaned), unless otherwise agreed.