Some of the most important segments of any real estate transaction are how the subject removal, completion, adjustment and possession dates and times match up as the transaction draws to a close.
This quite often causes stress and disappointment for both Sellers and Buyers.
It can be a very complicated process if all parties to the transaction do not pay full attention and apply some forward thinking. So, let’s have a look at how this whole process should be handled.


If you are the Seller, this is the date your Buyer has completed their due diligence, and is fact saying to you “OK we are satisfied with the condition of the property, and we would like to buy it as per the dates and times in the original accepted offer” In most jurisdictions, the Buyer would be expected to forward the agreed amount of deposit to their Buying agent’s brokerage, within 24 hours, in the form of a bank draft.
If you are the Buyer similar rules apply regarding the deposit, but be sure to communicate with your Realtor® for further clarification.


If you are the Seller, this is the date the registered Title of your property is transferred to the Buyer, and any proceeds from the sale should be forwarded to your bank account within 24 hours or so.
If you are the Buyer this is the date you actually own the property. You will need to ensure your homeowners insurance became active at 12.01 a.m. of this day.


If you are the Buyer, this is the day you become responsible for the property taxes, hydro and natural gas costs and the maintenance fees if you are buying a strata property.
If you are the Seller it is a good idea for you to have contacted your utilities suppliers to ensure they are aware that as of this day a new owner will be responsible for these costs.


If you are the Seller, this is the day you need to be able to deliver vacant possession (subject to any agreed tenancies) to the Buyer at the time agreed to in the original accepted offer (usually 12 noon).
If you are the Buyer, this is the day you will receive the keys to the property, and even though you paid for it on completion day, you can now start to move your furniture in.

Difficulties often occur when not enough time is given for all these processes to play out.

Here is a good guideline to follow when you are selling one property and taking possession of another:-
Monday completion of the property you are selling,
Tuesday completion of the property you are buying,
Wednesday possession of the property you are buying,
Thursday possession of the property you are selling.


You cannot complete a real estate transaction on a weekend or a statutory holiday, as your Local Land Title agency will likely be closed .
The transfer of Title will be difficult or impossible if there are any outstanding financial charges registered on Title. Such items as unpaid property or income taxes, unpaid child support payments or builders’ liens will no doubt delay the conveyancing of Title. If you are the Buyer, ensure your Realtor® has obtained a copy of the Title Search for the property and has studied it and shared any concerns with you. If you are the Seller, make sure that any outstanding charges or liens registered on Title have been addressed and/or removed well in advance of the completion date.

Try not to have completion day fall on a Friday,

Give your notary/lawyer a “heads up” you are in the process of buying and/or selling real estate,

Give your lawyer/notary enough time to complete the documents and do their due diligence.

Keeping these dates and times in mind should help your real estate transaction to complete with a minimum of stress and/or concern.