Matthew Curry, CIM: After You Buy. Secure Your Deposit

Normally, deposits are submitted at the point of acceptance. If not, they must be delivered within 24 business hours. In most cases the deposit has to be a certified cheque or bank draft.

Satisfy Conditions

If you’ve submitted a conditional offer (home inspection, financing, etc.), hold off on the celebration until these tasks are settled. Remember that there are always time constraints with conditions, so make sure you deal with the outstanding items in a quick and thorough manner. Once you’re satisfied with the inspection or your mortgage has been approved, you must execute a waiver and have it delivered to the seller’s agent within the conditional time frame in order to finalize the transaction.

Visit Your New Home

Most deals have at least two ‘Purchaser’s Visits’, allowing you time to re-visit the property with family or trades people, etc. Visits are usually 1hr in duration and are always accompanied by your agent.

Give Notice

If you’re renting, you must provide 60 clear-days notice of you vacating (‘clear days’ means from the first day of the next month).

Change of Address

Fill out a change of address form online to forward your mail as of your closing date, and notify all important parties of your new contact information.

Meet With Your Lender

You’ll need to execute your mortgage papers prior to the property closing. Once your deal is firm, coordinate a timeline of required meetings, documents, and money transfers with your lender.

Coordinate Home Insurance

Whether it’s property or content, it’s important to coordinate your insurance well in advance of closing. Shop around for varied rates and services.

Meet With Your Lawyer

It’s standard to meet with your lawyer a week before closing to do the final signing. Keep in touch with them in the weeks leading up to closing to ensure all is on track.

Closing Date

It’s hard to nail down the actual time of closing. Depending on the schedule of your lawyer and the seller’s lawyer on that day, closing can happen anywhere from 11am-5pm. As such it’s good to expect to get your keys at 5pm. That way you won’t be paying movers to sit stagnant with your furniture while waiting for keys. Even better, try scheduling your move the day after closing. That way you avoid timing issues altogether.

I always discuss these details with my clients at length, but please email me directly for more info.