Possession Date for Vancouver BC Buyers
Moving Dates and Possession Dates: Complex Issues Surrounding Them
by Geraldine Santiago
What are moving dates for buyers and sellers? Moving dates and possession dates are simple. It is the issues surrounding them that are complex. If you can understand the entire scope of this day and anticipate some of the hiccups that could happen along the way, you will be able to have a stress-free move.
To understand moving dates is to understand when the possession date is. Look at your contract of purchase and sale or agreement to purchase if you are not sure. You can also ask your real estate agent for guidance on dates and what they may recommend in your specific situation. If you have children, for example, you might prefer a move in date that is closer to the end of the school year. If you are renting and have a lease, you might want to check those dates and make your dates in sync with your move out dates in your rental suite. You don’t want to make the mistake of leaving your rental accommodations too early when you do not have legal access to the property you just purchased.
When you are purchasing a property, the possession date is what is the date stated or written on the contract of purchase and sale and more specifically, it is at 12 o’clock noon on that very date. This means that the previous owners should vacate before 12 o’clock noon.
When placing your offer, you will need to refer to your calendar to see if this specific date of the year falls on a statutory holiday, a week day or a week-end. This is also equally important when “completing” as most law offices and notary offices, as well as city hall, where title is registered, are not open. In addition, if you were to physically move in on a statutory holiday, moving companies might charge a premium.
For strata-titled properties, there might even be limited times where you are given full access to the elevator. Any delay or loss of time during your designated time frame could even add to your stress-level. However, as long as you are aware of this, and you anticipated this, and can adapt, this could help your winning attitude in a move.
Timing is everything when you are trying to vacate a property and trying to take possession of another. You might be moving into a property hours or many miles away from your original property. There could be hiccups and delays, even with the best organization, planning and intentions by all parties. There could be unforeseen drawbacks such as inclement weather, or car engine failure, and so on. So try to give yourself realistic goals throughout your move-in day.
Most realtors do provide an added service by not only giving the new owners the keys to their home on their possession date, but they also do a walk-through of the entire property including garage areas and backyards to make sure that nothing unwanted was left behind, such as garbage or old furniture.
Moving days can be undoubtedly stressful but knowing a little bit more and anticipating some of the hiccups could help you survive the day!