Can I get early possession of a home?
Want the keys before closing? Read this — how to get early possession of a home and stay protected.
Can you get early possession of a home?
Yes — but not automatically. Early possession (also called early occupancy, pre-possession or interim occupancy) is possible when the buyer and seller sign a specific agreement that sets terms, dates, insurance, liability and money. Lenders, lawyers and insurers must often sign off. Get it wrong and you pay unexpected costs, or lose mortgage protection.
Why sellers agree and why buyers want it
- Buyers want time to move, renovate or occupy sooner.
- Sellers may need extra time to vacate or to collect interim rent.
Both sides can benefit — if the agreement is clear.
Big risks to know
- Mortgage and insurance gaps: your lender may treat the property differently before closing.
- Liability and damage: who pays for damage or utilities during early possession?
- Title and closing issues: possession before registered transfer exposes buyer to legal risks.
Never assume possession equals ownership.
How to get early possession — a step-by-step plan
- Ask early and ask early in writing. Put the request in the offer or immediately after accepted offer.
- Include an Interim Occupancy Agreement (IOA) or License to Occupy. This must state: start/end date, daily/weekly occupancy fee, utilities, insurance, repairs, damage responsibility and termination rights.
- Get lender approval. Ask your mortgage broker or lender if early occupancy is allowed and whether they require additional mortgage instructions or insurance.
- Confirm lawyer review. Your lawyer should draft or review the IOA. They’ll identify title, tax and HST concerns and add indemnities.
- Buy short-term insurance. Confirm coverage for contents and liability from move-in date. Sellers should maintain vacant home insurance until keys are handed over.
- Document condition with photos and signed inventory. This prevents disputes on damage claims.
- Use escrow for funds, if needed. If the seller asks for compensation, hold funds in trust with clear release conditions.
What to include in the agreement (must-haves)
- Exact possession start time and handover process.
- Amount and purpose of any occupancy fee (noted separately from purchase price).
- Responsibility for utilities, property tax adjustments and repairs.
- Damage and liability insurance requirements.
- Right to terminate and remedies for breach.
Closing & moving checklist before early move-in
- Lender sign-off obtained
- Lawyer approved IOA and title review
- Insurance effective on move-in date
- Signed condition report with photos
- Keys exchanged via lawyer or trusted agent
If you want this done fast and safely, call a local expert.
Need help? Tony Sousa is the local agent who handles early possession requests every month. He’ll negotiate lender approvals, draft clean interim agreements and protect your money.
Contact: tony@sousasells.ca | 416-477-2620 | https://www.sousasells.ca
Get early possession only with a clear, lawyer-reviewed agreement. Do that, and you get the move you want — without the risk you don’t.
