To the surprise of some homebuyers, the day they are able to take occupancy of their new digs does not always coincide with the closing.

An occupancy date is always a negotiable item, just like price. Traditionally, in most markets, occupancy takes place simultaneously with settlement. You sign the papers, and the place is yours.

But that’s not always the case. In agent Judi Barrett’s Idabel, Oklahoma, market, for example, it’s not uncommon for buyers to allow sellers seven to 10 days, post-closing, to remove all their belongings. But in Chicago, it’s unheard of to agree to delayed possession, reports agent Jennifer Allan-Hagedorn.

In the Los Angeles area, Beverly Hills agent James Engel says sellers need to be out three days prior to closing so buyers can do their final walk-through. In the Denver market, sellers expect three extra days after the closing to move out. Just up the interstate in northern Colorado, reports Loveland agent Rob Proctor, possession takes place at closing.

Negotiating when the keys change hands can sometimes be a sticking point -- more challenging than haggling over any other item in the contract. And with good reason.

From the buyer’s point of view: What if something happens to the house between the closing and the time the sellers actually leave? Will the seller, who is now a tenant, be required to repair it? Or will the buyer, who’s now the owner? What if the buyer does move out but leaves his junk behind? Or worse, what if he trashes the place because you drove too hard a bargain?

Will the seller-tenant have to pay rent, and how much? What if, for some reason, the seller decides to extend beyond the agreed-upon move out date? What if the seller never moves out?

Ideally, buyers would like the house to be totally empty a day or two prior to closing so they can do a final inspection of the place and spot any damage that had previously been strategically covered up by a rug or hidden behind a box. Or damage that was caused when the sellers moved out.

But on the seller’s side: What if they move out and then closing’s delayed? Or their new home isn’t ready and they have nowhere to go? Or the buyer changes his mind?

What if the buyer has some last-minute glitch in obtaining financing, and the deal falls through altogether? It is not unheard of for lenders to come up with some deal-breaker at the last minute. And it’s not uncommon for buyers to make some big-ticket purchases prior to closing that lowers their credit score or pushes them beyond the required debt-to-income ratio.

And what happens if the buyer’s sale of his previous home runs into problems, and he can’t get the money he needs from that house to complete the purchase?

It’s a complicated issue, for sure. But there are ways to figure it all out.

For starters, agents suggest that sellers alert would-be buyers in their listings that they need “X” amount of days beyond closing to pack up and move out. That way, if a buyer has a problem with that, he can either move on to another listing or counter that requirement in his offer.

If the parties agree that the seller will remain post-closing, they should state in the contract the exact number of days he will stay. Also, when the seller becomes a tenant, he should pay rent on a per diem basis. The amount is negotiable: Sometimes it’s a token $100 a day. But in other instances, the daily rent is calculated at 1/30th of the buyer’s mortgage payment.

The contract should also specify who pays for any damages post-closing. What if the movers damage a staircase handrail? What if a mover carrying a heavy box trips and breaks his ankle? Or, heaven forbid, what if there’s a fire?

Since the seller is no longer the owner, his homeowner’s insurance won’t cover the cost of these or a myriad other possibilities. So the buyer should make certain his new policy will, even if he hasn’t taken occupancy. If so, that the seller-tenant will cover the buyer-owner’s deductible should also be part of the contract.

To protect themselves even further, buyers should require their sellers to set aside a certain amount of their proceeds in escrow at closing to cover damages or extra days beyond the specified move-out day. How much? Also negotiable. But realize that if there is any kind of dispute and the seller will not permit the settlement agent to release the funds, you are likely to end up in court to seek redress.

Another suggestion: If there is a garage, or perhaps a storage building somewhere on the property, the buyer can allow the seller to use it as a transition area where he can store some of his belongings for a few days after closing. That way, the buyer can move into the main house right away, and the seller can come back after he moves out to get the rest of his stuff.

Rising mortgage rates and higher prices are likely to bring an increase in a concept known as equity sharing, especially for first-time buyers who are short on money for the down payment and closing costs.

Equity sharing works like this: In exchange for a slice of the value you build up over the years, a third party will spot you the cash you need to make the deal work.

The scheme has been around for years. Mission-based or publicly subsidized equity-share programs, such as community land trusts and limited equity co-ops, have helped thousands of families become homeowners.

Now, a dozen or more for-profit investors have entered the market or are about to, expanding the sector exponentially. But the various programs are not created equal. Rather, they’re all over the ballpark in their terms and conditions.

Consequently, “consumers need to be vigilant about protecting their interests,” says the Urban Institute’s Housing Finance Policy Center, an independent think tank examining the issue.

This is a “fast moving” concept, as at least 12 firms are “still in the launching stage and shopping for both customers and investors,” says Brett Theodos, a senior research associate at the policy center. That is, firms are seeking customers to borrow the money and investors to provide it.

The center is focusing its research around a number of questions, according to Theodos. And they are the same ones would-be clients should be asking to determine if equity sharing is right for them, and if so, which company’s program best fits their needs.

Here are the major variables to consider:

-- Charges: What is the all-in cost of participation, including up-front fees, servicing fees and third-party fees? Generally, they should be in line with what regular lenders are charging. Ask to see a complete list.

-- Terms: How long does the program last? Typically, they run for seven or 10 years, which is within the time frame in which most people sell and move on. But what if it ends before you are ready to sell?

You’ll probably be able to refinance, pay off your equity partner and have enough left over for a healthy down payment on your next place. But what if values have remained flat during your tenure as an owner? Or worse, what if values have gone down? Does your equity partner share in the downside as well as the upside? And if so, what portion of the loss does the firm cover?

-- Value: How will the value of your property be determined? By an appraiser, or an automated program? If it’s an appraiser, will he be hired by your partner or by you? And who determines the accuracy of the valuation? Also, who pays for it?

-- Termination: What happens if you want to end the pact early, before its term is up? Is there a penalty?

Say, for example, that you have a 10-year agreement with your equity partner, but you want to sell and move elsewhere sooner. Investors are expecting a certain return on their money, and by moving, you are cutting into their return on investment -- perhaps drastically. How exactly is this situation handled? And make sure the answer is in writing as part of your deal.

-- Restrictions: Can you obtain a home equity line of credit or a second mortgage based on the increased value of your property? If you are spending your equity for whatever reason -- perhaps a European vacation or remodeling project that will add value -- your partner will want to have a say. So, what are the rules?

-- Improvements: Are you allowed to make capital improvements such as an addition or finished basement? How are they taken into account in determining the investor’s share? If you pay for improvements entirely, do you get all of the extra value attributable to the improvements, or does your partner get to share in that, too?

-- Default: What happens if you don’t pay your property taxes, or can’t make your house payments and default on your loan? Again, ask to see the rules. A number of seniors who took out home equity conversion mortgages -- aka reverse mortgages -- lost their houses because they either didn’t realize they still had to pay their taxes and keep their homeowners’ insurance up to date, or just failed to do so.

-- Disputes: How will disagreements be settled? Will you be required to take your beef to arbitration or can you go to court? If it’s arbitration, who gets to choose the arbiter -- you or your partner?

Make sure you thoroughly discuss all of these issues before committing to any equity-sharing plan.

Even after 51 consecutive months of a below-normal supply of homes for sale, the picture for buyers this year is expected to be even more challenging, according to an analysis from Realtor.com, the website of the National Association of Realtors.

Active inventory in December on the site was down 11 percent compared to December 2015. As a result, 2017 has started with the lowest inventory of homes for sale since the recession, and possibly in decades, said Realtor.com Chief Economist Jonathan Smoke.

At the same time, online realty firm Redfin reported that inventory declined even more in December -- 12.7 percent -- to the lowest level in three years.

The lack of houses for sale was a challenge all last year, but a stronger “off-season” in the fall depleted the available homes for sale even more than is typical.

Now, with interest rates expected to rise to perhaps 4.5 percent or more this year, demand has become more intense. With fewer homes to look at, average views per listing were up 40 to 80 percent in the last three weeks of December compared to the same time in 2015, says economist Smoke.

“Multiple potential buyers seem to be interested in virtually every home on the market, even though we are in the slowest time of the year for sales,” he reports.

In its report, Redfin said of the homes sold in December, a third were under contract within two weeks of coming on the market.

“We’ve never before seen homes turn over so quickly at a national level,” said Nela Richardson, the company’s chief economist. “This tells us that buyers (were) not deterred by low inventory, election uncertainty and slightly higher mortgage rates. If anything, these headwinds are motivating them to act sooner rather than later.”

Borrowers who are having trouble with the outfit that collects their payments and pays their taxes and insurance, and who get no satisfaction on their first try to resolve the issue, need to kick it up a notch.

That’s the surest way to get the company’s attention, says Kevin Brungardt, chief executive officer of the RoundPoint Mortgage Servicing Corp., one of the country’s largest non-bank mortgage servicing companies.

“With social media these days, not to mention the risks of regulatory intervention, servicers have to be much more responsive,” says Brungardt, who suggests finding the name of the CEO or other top officer in the company and contacting that person directly, either by phone or email.

“There are so many different ways to connect and push back to get your issues addressed. And keep trying until you succeed.”

There’s still time to nail a house in the best month of the year for bargain prices.

According to an analysis of more than 50 million transactions over a 16-year period by ATTOM Data Solutions, people who purchased a house in February bought at an average 7.2 percent discount from the median price for all houses over the study period.

Eight of the top 10 days to buy are in February, with the other two being in January, according to ATTOM economist Daren Blomquist.

If you miss February, you can still obtain discounts -- albeit smaller ones -- in March and April, the analysis suggests. But if you wait until the period from May through September, you’re likely to pay a premium of up to 5 percent above the median.

Between 2000 and 2016, more sales took place in June than any other month. August was next, followed by July, May and September. The fewest sales were in February, January and November.

The spots with the largest concentration of second homes may not be where you think. It’s not the beach, but the mountains, according to an analysis of the nation’s 7.5 million seasonably occupied houses by the National Association of Home Builders.

In fact, 79 percent of the houses in Hamilton County, New York, were second homes in 2014, the latest year for which statistics are available. Some 74 percent of Forest County, Pennsylvania’s houses were second homes, as were nearly 73 percent in Rich County, Utah. None of the 10 counties with the largest concentrations contained an ocean beach.

Second homes accounted for more than 10 percent of the housing stock in 913 of the nation’s 3,300 counties. And in 357 counties -- 11 percent of the total -- 20 percent or more of the houses were seasonal.