Tips to Help You Avoid the Closing Day Delay
Today’s the day! You’ve paid off the purchase price, completed the last of the paperwork, and your lawyer is ready to give you the keys to your new home. Whether you’re a first-time homebuyer or a seasoned mover, you’ll know that the much-anticipated closing date is accompanied by a myriad of emotions as you move closer to a new, exciting stage in your life. After all, the house you bought isn’t technically your “home” until you have the keys in your hand.
When you’re caught up in the closing day details, it’s easy to forget that your moving date and closing date are two totally different days, and that they’re not mutually exclusive. In fact, the closing date that has been agreed upon by the buyer and the seller is subject to change, which could spell disaster for you if you’ve taken the liberty to book a professional moving company for the day! Imagine getting halfway through your day only to discover you can’t get the key until the evening – now you must deal with the consequences of paying the moving company for their extra time—not to mention the disappointment of being unable to move into your home!
As a trusted St. Catharines moving company, Bird’s Moving and Storage has witnessed many closing day delays that have added not only more stress, but also more costs to moving day. To help you navigate moving day obstacles as smoothly as possible, our team will share some tips and information on how to avoid the dreaded closing day delay.
Your Closing Day: Expectations vs. Reality
In a perfect world, your closing day will be your moving date. However, it’s not uncommon for the sellers to also choose the closing date as their moving day, which can cause major upsets for buyers who are eager to move in right away. In order to keep things on track, our team recommends that you plan for a slightly later date to accommodate potential delays. Once the land transfer goes through, your lawyer will get the “OK” to deliver the keys to you.
Here is an outline of how your closing day procedures might look:
1. In order to gain full possession of the home and keys, the buyer must pay out the remaining fees on the home before the closing date. The remaining balance must be received by the buyer’s lawyer.
2. Depending on the time of the land transfer, your lawyer may not have access to the funds until later in the day.
3. Remember, neither your lawyer nor your realtor have control over when you get the keys: that is dependant on the Land Registry Office, which ensures that the current owners can legally transfer ownership to you.
4. You and the seller must meet with your lawyers before the closing date to sign the appropriate paperwork. Your lawyer cannot give you the keys until land transfer is completed.
5. For newly built homes, the home builders retain the right to change the closing date.
Although your closing procedures may seem straight forward, delays in paperwork, bank transfers, and even irregularities pertaining to the title deed may slow down the process, which could cause your closing day to be pushed back. You wouldn’t want to pay for all your items to be moved and then find out you either have to bring them back home or pay to put them up in storage.
Plan for Closing Day with Bird’s Moving and Storage
Our St. Catharines moving company has executed its fair share of moves. We’ve also assisted many buyers who have encountered closing day delays. While we cannot personally guarantee that you won’t encounter delays with your closing date, we can certainly help you budget your time, and money, accordingly so that you can avoid setbacks with unforeseen circumstances.
Use the following tips to help inform your closing day schedule:
1. Avoid booking your move on the same day as your closing date. Instead, try to schedule a crew to move you in a day or two later to prevent scheduling mishaps.
2. Your lawyer cannot guarantee when you will receive your key. Carefully assess your timeline and moving costs to accommodate any potential delays.
3. If your moving date has changed, please notify your St. Catharines moving company as soon as possible.
4. If you’ve also just sold your home, and your closing date doesn’t align with the house you’ve just closed on, check out our storage services to minimize stress!
Your St. Catharines Moving Company is at Your Service
The Bird’s Moving and Storage team is passionate about making your move exceptional. To protect yourself from additional costs and stress that come from closing day delays, our team wants to help you make your next move. Visit our FAQ page to find out more about our services and contact us to learn how to make your next move stress-free!