What if I can’t move by the closing date?
What if I can’t move by the closing date? Read this and act now — it can save your deposit and your sanity.
If you can’t move by the closing date, don’t panic
Missing a closing date creates risk, but it doesn’t automatically ruin the deal. The fastest way to protect yourself is to act with clarity, documentation, and a simple plan.
Immediate steps to take right now
- Notify your realtor and lawyer. Tell them the situation in plain language. This starts a paper trail and lets professionals protect you.
- Review your purchase or sale agreement. Look for clauses on possession, closing date, extensions, and remedies for breach.
- Contact the other party immediately. A quick phone call followed by a written confirmation (email or signed amendment) keeps negotiations honest.
Practical options you can negotiate
- Extension of closing date: Ask for a short, signed extension. Offer a daily fee or a flat extension fee. Example: $100–$300/day or $500 flat depending on market.
- Post-closing occupancy (rent-back or holdover): Seller stays a few days/weeks after closing and pays agreed rent. Protects buyer and seller.
- Adjusted closing (partial move): Close, then arrange a rent-back while you finish the move and pay for it.
- Deposit/escrow amendment: Agree that a portion of funds remain in escrow until possession is delivered.
What you must avoid
- Assuming silence equals consent. If the other party doesn’t respond, get everything in writing.
- Moving out without agreement. Vacating early or late without documentation can cost you your deposit or trigger damages.
- Ignoring legal deadlines. Some agreements have strict remedies for delay.
Cost and legal risks — be realistic
Delays can mean daily occupancy fees, claims for damages, or in extreme cases, a breach of contract. The buyer can seek specific performance or damages. The seller risks losing the buyer if they refuse an extension and buyer walks. That’s why negotiated, written amendments are the safest route.
How a moving & transition expert helps
A specialist knows how to negotiate short extensions, structure rent-back agreements, and draft clear amendments that protect you. They speed up communication and reduce the chance of costly legal fights. Tony Sousa’s experience in moving and transitions focuses on these exact scenarios — practical solutions that save money and close deals.
Simple negotiation script you can use
“I need a X-day extension due to [reason]. I propose $Y/day rent or a $Z flat extension fee. If that works, my lawyer will prepare an amendment today.” Get confirmation by email and have professionals sign the amendment.
Final checklist before you close
- Written amendment signed by both parties
- Agreed daily or flat fee documented
- Clear possession date and conditions
- Lawyer and realtor copied
If you’re facing a tight closing and need an experienced negotiator who knows moving timelines, contact Tony Sousa. He specializes in transition solutions that keep closings on track, protect deposits, and avoid litigation.
Email: tony@sousasells.ca | Phone: 416-477-2620 | https://www.sousasells.ca
