Closing day for a real estate transaction is the day that title or ownership is transfered from the Seller(s) to the Buyer(s). The Seller(s) will move out of the home and the Buyer(s) will take possession. The property is now in the Buyer(s) name(s) and they are responsible for all expenses and upkeep.
You cannot close a real estate transaction on a Saturday, Sunday or a holiday. A holiday would be considered days that financial institutions and government offices are closed. An example of days you cannot close are New Year's Day, Thanksgiving Day, Canada Day, Labour Day, etc.
This time of year (end of November), some Buyer(s) and Seller(s) might be forming an agreement to close around the Christmas and New Year holidays. There might be a question which days would be acceptable to complete the transaction.
The best thing to do is contact your lawyer. Since they will be doing the closing, they can inform you which days their office will be open.
We recommend that you consult with your lawyer before you sign any documents.
Sell private and save paying real estate commission on our Durham Region Homes For Sale By Owner Website.
