When it comes to choosing a closing date for new home sales, you need to think carefully. Below are some helpful tips in this regard.

  • Avoid a Friday at month-end. Typically, this is a very busy day for property law offices. Also, if the deal needs to be extended, you won’t be given the keys until the following Monday, or maybe even Tuesday if a long weekend is involved.
  • If possible, choose a Wednesday. It’s a lot easier to manage a 1-day extension if there are delays.
  • If you are the seller, you should vacate your home before 3pm on closing day. Under most contracts for new home sales, the seller must hand over possession as soon as the deal is electronically registered.
  • If you are selling and buying a home in the same period, get bridging finance to assist you and close the purchase 2 days early. There will be less pressure on you, and you’ll have more time to move in while waiting for the sale to close.
  • Buyers shouldn’t plan to move in until late in the day of closing, or the day after, because you won’t want to pay more to the movers if the closing takes place late in the day, or if an extension is needed.

For many years, we’ve been helping people buy and sell real estate in the Georgian Triangle. If you’d like to know more about new home sales in this beautiful area, please feel free to get in touch with us at any time.

Blog Posts

Understanding Collateral Mortgages

There is quite a bit of confusion around collateral mortgages, compared to conventional mortgages. We often encounter this problem when we see a mortgage amount on a title that is […]

Read More