You have found the perfect home, written an offer that was accepted and all your conditions have been waived and the Sale is Firm as they say. Now what?
There are things that you will need to arrange before you get close to the possession date and they include:
- Arranging your Home Insurance
- Arrange for Utility transfer or new service at your property
- Change of Address with Canada Post and changing the addresss with your bills, subscriptions etc
From this stage you will need to deal with a few additional things before the big day (often referred to as the Possession Day or Completion Day).
Some of the costs that you can expect on closing include Tax Adjustments, Legal Fees, Land Titles registration costs and Moving costs. Check out the Closing Costs page for a further breakdown. Your lawyer will arrange a meeting usually a week before possession and will require a bank draft for the costs to close and will have been in contact with you prior to this meeting..
Your Lender will forward the necessary mortgage documents to the Lawyer who you have chosen to act on your behalf. The Lawyer will look after the details of tax adjustments, clearing up any issues that may have appeared on the title and ensuring that the land title is transfered into your name.
You will usually get possession at Noon on the day that was written into and agreed upon in the Offer to Purchase. A word of advice based on past experience is not to book Movers to show up at the property at Noon. There can be delays in the actual transfer of funds to the Sellers lawyer which could cause issues with trying to move into the property.
Your REALTOR® will schedule a time to meet at the property to do a walk through to make sure that everything is in order. One thing to note is that the way the contract is worded the Seller does not have to allow access prior to the Noon time frame. If this might be an issue we will need to address it with a term in the contract to allow an early walk through.
Once the Sellers Lawyer has authorized the release of the keys the property is yours!
If you have any other questions or want to know more contact me anytime and I would be happy to help!