Closing- What time to call the movers? Noon

'Closing' as we call it in the industry and otherwise known as completing the deal with handing over the key. That little ceremony where the lawyers calls the new owners to pick up the keys to their new home. Timing the Closing, getting the keys to the new home, is still a mystery. Sellers are nervous, Buyers are anxious, beyond that circle, everyone else involved in the deal pray the deal to close. Mostly the Movers are hopeing to make a quick buck if things go wrong. Not that many closes or hand overs go awry right at the end. But it has happened. When and at time to begin shifting is not easy answer. Families, children, pets luggage, boxes and all the stuff that movers wouldn't touch have to be moved in cars. Frayed tempers and unnecessary irritation It would make it easier for everybody involved in the moving process to get a sense of the more narrower time frame.

In Ontario, the seller and buyer of a home are aware that keys will be handed over no later than 6pm on the Closing date. Talk to different people and there will be a standard response.

Real Estate Agent: “Talk to the lawyer.”

Movers: “Talk to the lawyer”

Banker: “Talk to the lawyer”

Lawyer: “I will talk with the other lawyer”.

Here is a heads up on behind the door look at the closing process itself. A few days before actual closing all the paper work, monies adjustment and modalities are done. On the morning of the Closing date, the title of ownership is e transferred in presence of both the lawyers (hopefully both make it there on time and their turn comes soon). Takes a minute (hopefully, if the computer system is not down). The bank recieves the go ahead from Re Insuers (who hopefully are not caught with something else), the buyers bank (if they are not busy and caught up in something urgent) makes a cheque on behalf of the buyer to the Seller's lawyer. When the Seller's lawyer recives it (hopefully in time) and check if everything is alrighty. Then the Buyer's lawyer calls to confirm with the Sellers lawyer (if avialable, on a busy day both can be leaving messages for each another before speaking) if everything the cheque is spot on. Only after confirming with the other lawyer (hopefully it is not lunch or dinner time by now), the lawyers secretary will call the buyers to come and pick up the keys. Now you see where the ambguity sets in.

My advise to buyers would be starting packing around noon and to sellers would be to leave the premises by noon.