Congratulations – your offer has been accepted, conditions have been removed, and you’re officially on the path to owning your new home. So… what happens next?
This guide walks you through everything you need to do between condition removal and move-in day, ensuring a smooth closing and a stress-free possession.
1. Hire a Real Estate Lawyer
Your lawyer finalizes the legal side of your purchase, ensuring funds are transferred, title is registered in your name, and you officially own your new home. If you don’t already have one, I’m happy to provide referrals to lawyers I trust.
What your lawyer will need:
Signed purchase agreement. I’ll send this directly to your lawyer
Two pieces of government-issued ID. Typically, a driver’s license and passport work best
Mortgage instructions. Your lender will send this to your lawyer
Final payment details. Your lawyer will explain how to bring in the remaining balance due at closing
Your lawyer will book a signing appointment roughly 1–2 weeks before possession day to review documents and collect your certified funds or bank draft.
Don’t Forget: FINTRAC Verification
As part of Canada’s anti-money laundering laws, all real estate buyers must complete a FINTRAC identity check. You’ll receive instructions to upload your ID and complete this step securely online.
What is FINTRAC?
FINTRAC stands for the Financial Transactions and Reports Analysis Centre of Canada. It helps detect, prevent, and deter money laundering and terrorist financing by:
Collecting transaction data from professionals like Realtors and lawyers
Analyzing it for suspicious activity
Sharing intelligence with law enforcement
This process ensures Canada’s financial system remains safe and transparent for everyone involved. Keep in mind that it’s not up to your Realtor to run the checks, we just collect the information (or have you upload it) and send it along. Check the link above for enough information to make you want to take a nap.
2. Arrange Home Insurance
Your lender requires proof of home insurance starting on your possession date. Contact your insurance broker early to arrange coverage, and have them send confirmation to both your lawyer and lender.
Tip: If you’re switching providers, remember to cancel your old policy effective the right date.
3. Set Up Utilities and Services
Before you take possession, contact providers to transfer or set up accounts for:
Electricity
Gas
Water & sewer
Internet and cable (if applicable)
Most require at least a few days’ notice to activate service on your move-in day. For waste collection schedules, download the WasteWise app
Check out this helpful video on how to get the best energy rates. Volume warning, I come in hot.
Update Your Address
Don’t forget to update your address with:
Alberta Registries – Required by law to update your driver’s licence and vehicle registration within 14 days of moving
Canada Post – Set up mail forwarding to receive your mail at the new address
Your employer and benefits provider
Banks and credit cards
Insurance companies
Pharmacies
Any memberships or subscriptions
4. Book Your Movers
Whether you’re hiring professional movers or rallying friends and family, book early, especially during peak moving months like May through September. If you need recommendations for movers, cleaners, or storage, just let me know.
5. Possession Day – What to Expect
On possession day, your lawyer will transfer funds to the seller’s lawyer. Once confirmed, the seller’s Realtor releases the keys to me, and I’ll update you the moment they’re ready for handover.
Important Timing Note
Even if your purchase contract says noon for possession, delays are common due to:
Bank processing times (especially if the bank has offices out-of-province)
Wire transfer cut-offs
Lawyer office hours
Natural disasters (yes, this has actually happened to me when a bank’s head office was under a Tornado watch)
Always plan to start moving at least 2 hours later to avoid frustration if keys aren’t released exactly at noon. Go for lunch, take the dog to the park - anything is better than staring at this big shiny thing you just bought but can’t yet enjoy.
Why You Should Avoid Closing on a Friday - And Dates To Avoid
Many buyers choose Friday closings to have the weekend to move in. However, if there’s any delay in funding, you risk:
The deal not closing before banks shut down for the weekend
Being unable to get your keys until Monday
Added expenses for storage, moving, fuel - and extra pizza and beer for any friends that volunteered their elbow grease to help out
This could leave you stuck with packed moving trucks and nowhere to go. Choosing Tuesday, Wednesday, or Thursday is often safer, giving you the following business day to resolve any issues. Please also remember that this process involves your side AND the other side in a transaction. You, your lawyer, your bank, your movers - everyone can do everything correctly and on time and still face delays due to technical issues with the banks, holidays, network outages - I’ve even heard of couriers getting into automobile accidents which prevents closings from going smoothly. Be patient, it helps more than you know! Last but not least, dress for the weather. Waiting outside your place in the summer heat or a winter cold snap sucks.
It’s also important to remember that we’re all human. Closing on the Friday before a long weekend in the summer? Banks, legal assistants, couriers etc. might have taken off early, lowering the productivity of those left behind to process your transaction. Banking with a B or C lender? They might lack the systems, technology and people-power needed to get things done quickly on closing day. We also want to avoid June 30 (tax processing day in Edmonton) and closing around Christmas, when the Land Titles Office shuts down for 2 weeks.
Prepare to take the day off work, but remember - just because you get the keys that day DOES NOT mean you need to move in that day. Work with your current landlord and manage the possession date of your current place to align nicely with what works best for you and your family. And yes, if that’s a Friday, we WILL make it work.
Oh, and speaking of Land Titles - they’re backed up by “6 to 8” weeks right now, so if you’re in a hurry to pay your taxes or set them up with the City of Edmonton, well, enjoy the holiday but don’t spend the money because they can and will find you :o)
6. Common Closing Mistakes Buyers Make
Here are some easy-to-avoid pitfalls that can cause headaches during your closing process:
Planning ahead and working closely with your Realtor and lawyer can usually prevent these issues entirely.
Final Thoughts
Buying a home is a huge milestone, and the final stretch is all about preparation. From hiring your lawyer to updating your address and booking your movers, tackling these steps early will make your closing day as seamless as possible.
If you ever have questions – whether about lawyers, insurance, movers, or utilities – I’m here to help.
FAQ
Q: When should I hire my real estate lawyer?
A: As soon as your offer is accepted and conditions are removed. They’ll need time to prepare documents and book your signing appointment before possession day.
Q: Why do I need home insurance before I move in?
A: Your lender requires proof of insurance effective on your possession date to protect the property (and their investment) in case of damage.
Q: Can I move in before possession is officially granted?
A: No. Legally, you can’t move in until the keys are released after funds have been transferred. Planning for an afternoon move-in helps avoid delays.
Q: What is FINTRAC, and why is it required?
A: FINTRAC is Canada’s financial intelligence agency, ensuring all large transactions (including real estate) are monitored to prevent money laundering and terrorist financing. Identity verification is required by law.
Q: What happens if my closing is delayed on a Friday?
A: Your deal may not close until Monday if banks or law offices close before funding is complete, meaning you can’t move in until then.
Ready to buy your first home or have questions about the closing process?
I’m here to make it simple and stress-free. Contact me today to get started on your homeownership journey.
