REALTORS® Association of Edmonton
 
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Close the Deal

Your offer has been accepted and you can’t wait to move in. These are exciting times, but don’t break out the bubbly just yet. You have to close the deal. Your REALTOR® and lawyer will do most of the closing work, but here’s your checklist.

Closing checklist

  • Immediately begin satisfying any conditions of the agreement that require action on your part. Your REALTOR® will fill out the documents stating that the conditions have been satisfied.
  • Have your lawyer begin searching title to the property. This can take a while, so make sure you give ample time.
  • We recommend a home inspection to avoid any unpleasant surprises on move-in day.
  • Well before closing, get your homeowner’s insurance. Your insurance broker will give you a ‘binder’ letter certifying that you’re covered. You can’t get a mortgage without this letter!
  • Contact your lender and have them finalize your mortgage documents. Have your lawyer review them before you sign.
  • Your lawyer will transfer essential utilities like hydro and water, but you’ll have to make sure telephone and cable companies switch their services to your name.
  • If you rent, you must give notice to your landlord, or sublease your apartment.
  • Begin planning your big move! Where are those cardboard boxes?
  • Send out your change of address information and fill out a card at the post office. Contact the Ministry of Transport about changing your driver’s licenses.
  • A day or two before closing, you’ll meet with your lawyer to sign the closing documents. Your lawyer will tell you in advance what certified cheques you’ll need to seal the deal.

The big day arrives

Deliriously happy and emotionally exhausted, here you are on closing day. You made it! If your lawyer has arranged everything well, closing day can be surprisingly low on drama. Before you know it, you’ll be handed the keys you new home.

Next Step: Move In

©2006 The Canadian Real Estate Association. All Rights Reserved.

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©2011 REALTORS® Association of Edmonton 14220 112 Avenue, Edmonton, Alberta T5M 2T8T: 780-451-6666 TF: 1-888-674-7479 F: 780-452-1135

 

Trademarks and their associated logos are owned and controlled by The Canadian Real Estate Association (CREA) and
identify real estate professional who are members of CREA (REALTOR®) and/or the quality of services they provide (MLS®).

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The REALTORS® Association of Edmonton (Edmonton Real Estate Board), founded in 1927 , is a professional association of over 3,200 Brokers and Associates in the greater Edmonton area. The Association administers the Multiple Listing Service®, provides professional education to its members and enforces a strict Code of Ethics and Standards of Business Practice.

The Association advertises property listings and publishes consumer information on the Internet at REALTOR.ca, as well as in the Real Estate Weekly.
The REALTORS® Association supports charities involving shelter and homelessness through the REALTORS® Community Foundation.