How do I schedule closing and possession dates?
Want to lock a perfect closing and possession date in Milton? Do THIS first.
Why the closing and possession dates matter — and why most people get them wrong
When you buy or sell a home, dates are the levers that control money, keys, taxes, storage, and stress. Get the date wrong and you pay for it in rush fees, bridge financing, double rent, or missed opportunities. Get it right and the move is smooth, predictable, and cheap.
This is practical, actionable guidance for buyers and sellers in Milton, Ontario. No fluff. Follow the steps and you’ll win the timeline battle.
The short answer
- Decide the closing (completion) date early — at offer stage.
- Confirm the possession date (can be same day or after) in the agreement.
- Coordinate lenders, lawyers, and utilities at least 2–3 weeks before closing.
- Do a final walkthrough 24–48 hours before possession.
Now the full, step-by-step plan.
Step 1 — Start on day zero: include dates in the offer
Don’t wait. When you write or accept an offer in Milton, put the proposed closing date and possession date in the Agreement of Purchase and Sale. Typical timelines:
- 30 days: aggressive but possible with lender and lawyer ready.
- 30–60 days: common and realistic.
- 60–90+ days: used for new builds, condition removals, or special needs.
If you need more time, state it. If you need a fast closing, put it in the agreement and be prepared to pay for faster lawyer or lender turnaround.
Step 2 — Understand closing vs possession (Ontario terms)
- Closing (completion) date: the day the funds are transferred, the deed is registered, and the sale completes legally.
- Possession date: the day the buyer gets physical access to the property and keys.
They can be the same day — most often they are. They can also be different: sellers sometimes request a post-closing occupancy or the buyer requests early access. Any variation needs a written occupancy or holdover agreement and usually payment for the extra days.
Step 3 — Coordinate with your lawyer early (3–4 weeks before)
Your lawyer handles registration, title search, mortgage instructions, Land Transfer Tax (Ontario & City of Toronto/Land transfer specifics if applicable), and closing funds.
Action items:
- Provide ID, insurance binder, and mortgage instructions ASAP.
- Ask your lawyer about the preferred method to deliver closing funds (bank wire vs certified cheque vs e-transfer). Some require a few business days for incoming wires.
- Confirm the exact time of registration and when keys will be released. Lawyers often handle the final paperwork late morning or early afternoon.
If you want a same-day possession, your lawyer must register the deed and mortgage on closing day and confirm the keys can be released. That requires everyone be ready.
Step 4 — Coordinate with your lender (buyer) — 2–3 weeks before
Mortgage lenders need conditions cleared and documents signed. Typical timing issues:
- Appraisal or value confirmation delays.
- Outstanding conditions like employment verification or additional documentation.
Action items:
- Confirm your lender has the exact closing date and any preferred time window.
- If funds are wired, ask your lender when the wire will leave and whether it arrives the morning of closing or the day before.
- If you need interim financing or a bridge mortgage (common if selling and buying different date ranges), arrange it early.
Step 5 — Confirm adjustments and final costs (1–2 weeks before)
Adjustments cover property taxes, utility bills, condo fees, and more. They’re calculated to the possession date.
Action items for sellers and buyers:
- Ask your lawyer for an adjustment statement a week before closing.
- For condo units, ensure common expense adjustments and status certificate issues are resolved.
- For new builds, confirm HST calculations and closing cost adjustments with the builder and your lawyer.
Step 6 — Final walkthrough and punch list (24–48 hours before possession)
Buyers: do a final walkthrough the day before or the morning of possession. Check that:
- The property is in agreed condition.
- All agreed items (appliances, fixtures) remain.
- Utilities are on (or as negotiated).
Sellers: ensure the property is vacant and cleaned. Leave all remotes, manuals, and keys in a clearly labeled envelope.
If something’s wrong, contact your lawyer and realtor immediately. There are legal remedies, but speed wins.
Step 7 — Moving logistics for Milton, ON
Milton is growing fast. Plan the move precisely:
- Book movers 3–4 weeks out for weekends; 2–3 weeks for weekdays.
- Reserve parking/curb space if you need a moving truck — check Town of Milton rules for permits if needed.
- Notify local utilities and service providers. At minimum: hydro, water, natural gas, internet, cable, and waste collection. Don’t rely on automatic transfers.
- If you need storage, book it early. Local units fill quick during peak months.
Pro tip: Reserve movers for the evening after possession or for the next day if possession paperwork or keys come in late.
Step 8 — If dates don’t match: use an occupancy agreement
Sometimes closing and possession dates don’t line up. Two common scenarios:
- Seller needs more time after closing (post-closing occupancy). Seller pays daily rent to the buyer.
- Buyer needs early access before closing. Buyer must get written permission and usually pay an insured deposit and daily fee.
Always use a written occupancy agreement drafted by a lawyer. It must spell out liability, insurance, rent, keys, and what happens if the occupying party doesn’t leave.
Step 9 — New builds and builder possession specifics
Builders have staged possession processes:
- Tentative closing windows — builders often give a target date, not a hard date.
- Final closing occurs after Tarion or builder paperwork is complete.
- Expect additional holdbacks or adjustments for upgrades and finishes.
Get a named contact at the builder and your lawyer on the distribution list for any date changes.
Checklist: 21-day closing schedule (use this calendar)
- Day -21 to -14: Confirm closing date in writing. Lawyer and lender notified.
- Day -14 to -7: Clear mortgage conditions. Book movers. Book final utilities changeover.
- Day -7 to -3: Lawyer prepares closing funds and statement. Review adjustments.
- Day -2 to -1: Final walkthrough. Confirm keys and remotes.
- Day 0 (Closing): Lawyer registers documents. Funds transfer. Seller vacates if same-day possession.
- Day +1: Move in OR receive keys per agreement.
Adjust timelines for new builds, bridge financing, or cross-provincial moves.
Mistakes that cost money (avoid these)
- Not putting specific dates in the offer.
- Assuming possession equals registration — verify with your lawyer.
- Booking movers without confirming possession time — you might wait all day.
- Not arranging for funds transfer timing — late wires delay closing.
- Ignoring municipal rules in Milton for parking or permits.
Quick answers to common scenarios
- Can possession be earlier than closing? Rare. Requires written permission and an occupancy agreement.
- Who pays moving costs? The occupant on the possession date — usually the buyer.
- What if the lender delays funding? Lawyers can sometimes delay registration and push possession but you’ll need extensions and likely compensation.
Final checklist for buyers and sellers in Milton
Buyers:
- Confirm lender timelines and wire instructions.
- Book movers after you have confirmed possession date and time.
- Arrange insurance effective on closing day.
- Attend final walkthrough.
Sellers:
- Confirm keys, remotes, and manuals are ready.
- Clean and remove personal items before possession.
- Leave meters, meter readings, and final bill info.
Local tips for Milton residents
- Town resources: Check Town of Milton for permits (parking, curbside waste changes). City hall updates affect pick-up dates and permit requirements.
- Peak move season: May–September. Book early.
- Utilities and internet: Confirm providers early. Some providers have limited installation slots.
Contact and local help
If you want a step-by-step plan for your specific Milton transaction, contact a trusted local realtor and lawyer early. They’ll align dates, handle adjustments, and avoid hidden costs.
Tony Sousa — Milton real estate expert
- Email: tony@sousasells.ca
- Phone: 416-477-2620
- Website: https://www.sousasells.ca
Use the contact above to get a customized timeline and checklist tailored to your closing and possession needs in Milton.
FAQ — Closing & Moving in Milton, ON
Q: How far in advance should I set a closing date?
A: Set it when you accept or make an offer. Typical windows are 30–60 days. New builds or complex deals can be longer.
Q: Can closing and possession be different days?
A: Yes. They can be the same or different. If different, use a written occupancy agreement outlining payment, insurance, and liability.
Q: Who pays land transfer tax and when?
A: The buyer pays Land Transfer Tax at closing in Ontario. Your lawyer usually handles payment from the buyer’s closing funds.
Q: What if my mortgage funds are delayed on closing day?
A: Communicate immediately with your lawyer and agent. Lawyers may request an extension or negotiate late fees. Avoid surprises by confirming wire timelines ahead of time.
Q: Do I need a final walkthrough?
A: Yes. Buyers should inspect 24–48 hours before possession. Confirm agreed repairs, fixtures, and overall condition.
Q: Do movers need a permit in Milton?
A: Sometimes yes — especially for oversized trucks or curbside parking. Check Town of Milton for specific permit rules and timelines.
Q: What happens to utilities at closing?
A: Services should be transferred or set to start on possession day. Confirm with providers for exact turn-on times.
Q: How are adjustments calculated?
A: Lawyers prorate property taxes, utilities, condo fees, and other recurrent costs to the possession date. Review the adjustment statement before closing.
Q: Who holds the deposit?
A: Deposits are usually held in trust by the seller’s brokerage or lawyer until closing.
Q: What if the seller doesn’t vacate by possession?
A: That’s a serious breach. Legal remedies include damages, eviction, or a court order. Contact your lawyer immediately.
Want help scheduling your closing and possession dates in Milton? Reach out. A local plan saves days and thousands of dollars.
