What is Closing Day?
Closing Day is when you you are given the keys to your new home and can begin moving in!
It’s an exciting day, to be sure! Closing day starts first thing in the morning and involves the lawyers transferring your money to the sellers, keys are handed over, and you are officially the new owners!
There are a number of things that Buyers can do to make closing day run a lot smoother for everyone. Here are our Top 5 suggestions on how you can prepare for the most stress-free closing day!
Tip #1: Patience is Key
Everyone is working hard on your closing day to get the deal done as quickly as possible.
When a home is closing, a LOT of things have to happen before you’re given the keys and the go-ahead to move in:
- The banks need to transfer funds to the lawyers trust account.
- If you’ve sold first, the bank needs to wait for the buyers of your old home to transfer funds so that the bank can transfer these funds to purchase your new home.
- This all depends on how many closings the banks have that day and how fast everyone can get this sorted.
- Once the bank transfers the funds, the lawyer needs to make a trip to the bank to get this money to pay the seller of your new home.
- This requires them making the time to get there and getting a certified cheque in the amount owing for either your down payment along with any left over to be given back to you.
- Once the monies have been exchanged, the lawyer will need to register your name on title. This means co-ordinating with the registry office and ensuring the title is clear and that your name is added with the appropriate mortgage amount (if any).
So as you can see, it’s a bit of a waiting game. We usually tell people to plan accordingly (especially with your movers!), as this list of items may not be completed until 4-5pm. Only your lawyer will be able to tell you when all of these steps have been completed. Unfortunately your REALTOR® cannot make this process move quicker, and has no bearing on when you’ll get your keys.
Rest assured that everyone will be working as quickly as possible in order to make this happen for you.
Tip #2: Check for Inclusions
Make sure everything that was supposed to have been left for you in the home is there.
While it may be a priority to dig in and start unloading boxes, take a few minutes to quickly make sure everything the sellers were supposed to include with the home are indeed there. Things like:
- All appliances, light fixtures and window coverings that were to be included in your purchase agreement
- Any TV brackets, shelving units or furniture that were agreed to be left for you, the new owners
- Any extra keys (including mailbox keys, garage keys, etc.) are easily found and accessible
If you notice anything is missing that you believe you should have been given, call your REALTOR® immediately and ask that they double-check the agreement. This can usually be resolved quickly if you let your real estate agent know immediately.
Tip #3: Check that Things Are Working
Do a quick once-over of appliances, fixtures, fireplaces and more to ensure they’re all in working condition.
Making sure the appliances and fixtures work in the home is actually extremely important to check on closing day. If anything isn’t in the condition that you reasonably expected, you will need to inform your real estate agent immediately.
If this is left for a day or two, the sellers can say it was YOU who broke the items, and you may not have any recourse.
Do a quick check:
- Do all the toilets flush, and the faucets run with adequate water pressure? Do sinks, showers & tubs drain freely?
- Does the oven heat up? Does the microwave run properly? Does the dishwasher run without leaking? Give a check of all the included appliances – even the washer & dryer!
- Does the gas fireplace turn on and light easily?
- Is the furnace/air conditioner working to keep the house at a reasonable temperature?
- Are light fixtures and ceiling fans working properly?
Anything you can do to check these items before the end of the day will help ensure that any problems are addressed quickly by your real estate agent and if necessary, your lawyer.
Tip #4: Check on the Home’s Condition
Make sure the sellers left the house in a reasonable condition.
Check the house for anything thats not normal wear and tear. Are there big holes in the walls from the old sellers moving out? Are the floors in tact? Is the home how you viewed it on your last walk-thru? Are there items left at the house that weren’t included in the Agreement of Purchase and Sale that you’d like the seller to pick up?
Sellers are required to leave the home in “broom swept condition”, meaning, it may not be 100% perfect and as clean as YOU would like it, but it just has to be “reasonably” tidy and cleaned up.
Anything that is of concern with the condition of the home when you walked in the door can be discussed with your real estate agent.
Tip #5: Consider the Weather
How will the weather affect your move in day?
Everyone wants a beautiful sunny day when moving in to their new home, but unfortunately Mother Nature doesn’t always cooperate. As movers are lifting boxes in and out of the home, the doors may be left open for extended periods of time. If you’re moving on a particularly cold or terribly hot day, you might consider shutting OFF the furnace or air conditioner during this time.
Having the doors open all day while moving may strain your furnace and air conditioner as it struggles to maintain a decent temperature. We recommend shutting these off temporarily so that they’re not running constantly, battling the exterior temps inside the house.
If it’s snowing or raining, you may consider putting down old rugs or towels to keep floors from getting soaked as things are being brought into the home. Moving companies often have protective floor mats they can use in these conditions so you’re not left with a soggy wet mess at the end of the day.
While your Closing Day is an exciting and busy time, you can really make it successful by taking a few of these tips into consideration. As always, if you have any questions about your closing day on your Brantford, Brant County or Norfolk County listing or purchase, be sure to ask our Team Kate Agents!
