Closing Day! When Should I Move Out?

What do we do on closing day? When should we move our stuff? We get asked these questions fairly regularly. So let’s dive in.

A lot of things can go wrong when you are buying a house. Some of these things are completely out of your control, and nothing can be done to prevent them from happening. However, some things that go wrong are completely preventable. Are you ready for a great example? This actually happens more than you expect.

New homeowners arrive at their new home on closing day, only to discover the previous owners are still there. In one instance, the now previous owners’ family were sitting down to have dinner in a home they no longer owned while the new owners arrived outside with their moving trucks!

So, when should you move out on the closing day?

Let’s start at the beginning:

What Is Closing Day?

Let’s take a step back. What is the “Closing Day,” also known as the “Completion Date” on your sales agreement(see below)? It is the date that you will legally take possession of your new home, when the deal to purchase your old home will likely close, and when legal documents & bank transfers happen. Technically the deals can be completed at any point during the day. In my experience, 90% of the deals close between noon and 5 pm.

Section 2 of a standard Agreement of Purchase & Sale

It’s Closing Day! When Should I Move Out?

What Can You Expect Prior To Closing Day?

Before you get to the closing day, you have to take a number of steps to help the transactions run smoothly.

It can be an incredibly stressful time. However, as long as you are organized, you will be able to keep a handle on it.

Here are some of the steps you will need to take:

Make sure your mortgage broker, lawyer, and insurance broker have all the relevant paperwork
Make sure you keep track of any conditions and when they are due to be waived
Book movers & notify utility companies
Update your address where necessary
Arrange dates with lawyers, and mortgage brokers for signing documents
Pack & Purge, packing is never pleasant but use it as an excuse not to bring unwanted items to the new place

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What Happens On The Actual Closing Day?

Sometimes it is a lot of “hurry up and wait”!

In the morning, you should be loading everything into the moving vehicles
You should aim to be completely packed up and out of the house around lunchtime
Make sure you give the house a good once over. Don’t leave a mess for the new owners
You have to wait until the lawyer tells you the deal has closed before you can pick up the keys from the lawyer’s office
Start moving things into your new property

FYI – sometimes you can make arrangements to start moving into a house early, but most, if not all, lawyers and insurance people will advise against clients allowing this.

Hopefully, you have a completely stress-free moving day.

As always,

Happy House Hunting & Selling

Want more details on the current market? You can find more details on the current market here: London & St Thomas Association of Realtors.

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Want more details on the current market? You can find more information about the current market here: London & St Thomas Association of Realtors.

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