Ben Sage, Moving Woodstock
So, when do we get the keys?
So you’ve found the perfect house, made your offer, confirmed your financing, and done an inspection. Congratulations!
One if the questions I hear most frequently is “on closing day, what time can we get in?”
The simple answer is, well, I don’t know. Basically, the buyers lawyer is responsible for distributing the keys to the buyers, once title has been registered in the names of the buyers.
According to Toronto Real Estate Lawyer Mark Weisleder the agreement of purchase and sale stipulates that sellers must give vacant possession to the buyers as soon as the deal is registered electronically, which usually happens by 2-3 pm. To that end, it would be wise to be moved out by mid afternoon at the latest.
To be safe, Buyers should not plan to move in until late in the day, or even the next day following closing. This will allow time for mistakes, errors, or problems to be (hopefully) rectified and not cause any extra costs for movers, etc.
Because of the nature of closing day, it’s best to pick a date that might not be a ridiculously busy closing day for your lawyer. For example, the last day in July, or essentially any Friday in the summer.
One more tip: Closing day is an exciting day for virtually everyone involved, but it can be remarkably stressful, especially if things don’t go quite according to plan. If things get a bit too stressful, take time to breathe and relax. It will never be a perfect day, but ideally everyone is working to help things go as smoothly as possible for you, and things will work out.
Ben Sage, Sales Representative
RE/MAX a-b Realty Ltd., Brokerage
I have been successful helping clients buy, sell, or lease residential, commercial, or investment properties in the Woodstock, Ontario area since August of 2007. With technical experience ... Read More...