"WHEN CAN I MOVE INTO MY NEW HOME?" and "WHEN DO I GET THE KEYS?" are the most common asked questions by new home buyers and "WHEN DO I HAVE TO MOVE OUT?" is commonly asked by sellers of their first home.
Knowing when the keys will be exchanged can be very important to both Home Buyers & Sellers when trying to arrange for movers, utilities, contractors and delivery companies.
The exact moment of "Completion" will occur once the Lawyers for the Seller and the Buyer have exchanged all documents and funds and have Registered the necessary documents. That "moment" of Completion could occur at any time during the Completion Date (as set out in your Agreement of Purchase and Sale) and the house must be vacant at that moment, otherwise, the Purchaser could refuse to close the deal (unless assumption of an existing tenant has been arranged in the Agreement).
As a practical manner, Sellers should be advised to be out of the home and in a position to deliver vacant possession as early as possible on the date of Closing (and certainly by no later than noon) and Buyers should be warned to not expect a key until late in the day (say between 4pm-5pm).
Buyers are not permitted to move in their belongings early, begin renovations or occupy the property at any date prior to the Completion Date unless otherwise arranged with the Lawyers.
Plan for a smooth moving date by knowing the facts!
At RE/MAX Escarpment Realty, a Knowledgable Consumer is Our Best Customer!