There are a number of important dates pertaining to the contract that you will want to be aware of. Read on for a quick explanation of each date. For more detailed info, check out the page called “Important Contract Dates” in this Portal.
- Home Inspection: if applicable; the appointment for the professional inspection of your property
- First Condition Removal: if applicable; occasionally some contracts have multiple Condition Removal dates
- Final Condition Removal: the day when the buyer(s) sign the final Condition Removal forms and the contract becomes firm
- Deposit Due Date: the date by which the buyer’s entire deposit must be made, in full
- Completion (or Closing) Date: the day that the buyer’s lawyer registers their purchase with the Land Title Office
- Possession Date & Time: the earliest date and time when the buyer(s) will receive the keys to their new property
The following is a general timeline of what to expect while you wait for the buyers to remove conditions:
- The buyers will likely schedule a home inspection for a few days before the condition removal date; we will confirm the date and time with you to ensure it works for you.
- Their bank may require a home appraisal to secure their financing; we will also confirm this date and time with you if it is required.
- A week or two before the final Condition Removal Date, check out the Your Homework page (found in the menu).
- Once the buyers remove conditions on the contract, the deal will be firm and your property is considered sold!
- Then. . . It will be time to START PACKING! We’ll provide a moving checklist after Condition Removal to help streamline that task.
Please get in touch with your agent any time if you have any questions or concerns about anything.
