Sunday, June 17, 2007

Moving Day - When do you receive the keys to your new home?

Moving Day - When do you receive the keys to your new home?

This is another question that I frequently receive regarding when the buyer receives the keys on the closing date and how to organize the move.

Hello Mark,

I just had a question about how things will happen on the closing day. Is it possible that we wrap up the paperwork for the closing of both sale and purchase in the morning or at least by early afternoon?

We can be packed up and out of my condo by noon - 1:00pm. But will we be able to have the keys to our house for that time as well? We just want to be prepared so then if people are helping us move, they do not have to waste their time if we can't get the keys until later in the afternoon.

Please let me know your thoughts.
Thank you!

Hello T,

The timing depends mostly upon what your lawyer is planning on the closing day. If your lawyer is planning to close at, say, 1pm, then you could expect to receive your keys an hour or two later. Some lawyers operate differently and have keys for all closings available at 5pm on closing day. In my experience, most buyers obtain keys to their new house between 3 and 6pm on the closing day. Rarely do they get keys earlier than 3pm, from my experience. We agents are not involved on the closing day, unless something is prearranged with keys or delivery of keys, it's the lawyer who closes your sale and purchase.

From a practical point of view, I would plan to have everything out of your condo and the truck packed and ready to go by about 2-3pm, go for lunch and then drive the truck to the new house, wait for the keys to be ready to be picked up and drive to your lawyer's and get the keys with a separate car and then move into the house. This way you will minimize the idle time of your helpers. You may end up waiting an hour or two for the keys or you may have them early, you never know until the actual closing day.

It is best to ask your lawyer what time they are planning to close and what time they expect to have the keys ready for you.

Just in case: moving checklist

Toronto Real Estate Board (TREB) Average Prices and Graph

For more information please contact A. Mark Argentino

A. Mark Argentino, Broker, P.Eng.,
Specializing in Residential & Investment Real Estate
RE/MAX Realty Specialists Inc., Brokerage
2691 Credit Valley Road, Suite 101, Mississauga, Ontario L5M 7A1

BUS. 905-828-3434
FAX. 905-828-2829

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