What Happens on Possession Day for Lethbridge Real Estate
Congratulations, you've just bought a new home! This is an exciting time, but it can also be a bit overwhelming. There's a lot to do in order to take possession of your new home and get settled in. Here's a step-by-step guide to help make the process as smooth as possible.
7-Steps to Ensure a Smooth Possession Day
- Property walkthrough
- Homeowners insurance
- Mailing Address Changes
- Receive your keys from your REALTOR®
- Start moving in
- Sit back and enjoy your new space!
1) When you make an offer on a house in Lethbridge and Southern Alberta, you will schedule a time with your REALTOR® to walk through the property and do a final inspection. This is your chance to make sure that everything is in good condition and that all agreed-upon repairs have been made and that all agreed-upon appliances are still there.
2) Make sure you have homeowner's insurance in place before taking possession of the property.
3) Arrange for utilities to be turned on in your name as of the date of possession.
4) If you're moving from another home, arrange for your old utilities to be turned off as of the date of possession of your new home.
5) Notify the post office of your change of address.
6) Get the keys from your REALTOR® and start moving into your new home!
7) Once you're all moved in, sit back and enjoy your new space!
Possessions are set in the contract to happen at 12 noon. However, if the money is received before then, the buyers can move in a little early. If the money doesn’t arrive till later, then the buyers will have to wait to move in. We recommend not booking a moving company in the morning. It’s much safer to book for later in the afternoon on possession day, or even better, the day after possession. You don’t want to be paying movers for a house that you are not allowed to move into yet. About 80% of the time possessions happen before noon. However, sometimes the buyer’s lawyer doesn’t receive funds from the mortgage company till later in the morning, so they can’t send it until the afternoon and it doesn’t arrive till later.
Taking possession of your new home doesn't have to be stressful—just follow these simple steps and you'll be all set! If you have any questions or need any assistance along the way, don't hesitate to reach out to your real estate agent for help.