| Time | Activity | Explanation |
| Time of Offer | Accepted Offer | Days or weeks of showings may go by before we receive an offer. Negotiations can take hours or days, depending. Once all terms have been agreed on, we have an Accepted OfferThis is when all parties agree on the terms of the sale, the contract is fully signed, and changes have been initialled. There are still conditions, or subjects, to the contract that the buyer or seller is under obligation to settle before the sale becomes firm. For example, a common subject is for the buyer arranging suitable financing.
There is an agreed upon date at which the subjects must be removed from the contract, usually one to one and a half weeks after the contract date. |
| During Subject Removal Period | Inspection | An building condition inspection will usually be booked shortly after the offer is accepted. It is important to for the buyer to understand what they are purchasing |
| 1-1.5 Weeks After Offer is Accepted | Subject Removal | An addendum to the contract is signed stating that all conditions to the sale have been removed, and the property is considered “sold firm.” |
| After Subjects are Removed | Lawyer or Notary | It’s a good idea to choose your lawyer or notary immediately after the deal is firm, that way our office can send the paperwork right away. We want to make sure the sale process is smooth and all paperwork is taken care of as soon as possible.
as quickly as possible. |
| After Subject Removal | Book a Moving Truck or Mover | It’s a good idea to book a moving truck or mover as soon as you know your moving day. Movers and trucks tend to book quickly, especially at weekends and month ends. |
| 1 Week Before Closing | Sign Documents with Lawyer or Notary | About one week before the Closing Date, your lawyer or notary will schedule a meeting with you to sign all the necessary documents. |
| 1 Week Before Closing | Follow Up Call | About one week before Closing, we touch base with your lawyer or notary to make sure that everything is going smoothly and they are prepared to close your deal successfully the next week. We’ll give you a call, too, so that you can rest assured. |
| Closing Date | Completion | On this day your deal “completes” you will receive the money for your property and the title changes hands. You will receive a call from our office as soon as we get the good news from the lawyer or notary. |
| Closing Date | Transfer of Title | This clears the seller of all financial encumbrances associated with the property: any amounts owing (i.e. – strata fees in arrears) are paid for out of the selling price making it a clear title. The title now goes under the buyer’s name and any new financial encumbrances (i.e. – mortgage) are applied. |
| 1-2 Days After Closing | Possession Date | At 12 noon of this day, possession is legally that of the buyer’s. At this time they are given the keys and they can begin to move in. |
Between after ‘subjects are removed’ cell and before ‘after subject removal’ cell please start a new cell between them that says “BETWEEN SUBJECT REMOVAL AND TITLE TRANSFER” next cell to right says “prepare to move” then the cell to the right of that says “Please see the moving checklist”
Where the words moving check list is a hyper link to our check list, to be provided.
