Don't Fall into the Trap of a Bad Closing Day

/ Highlander Law Group/
Moving can be exciting, but can also be a stressful time. What day your closing date falls on can contribute to how smoothly the transaction goes.

Moving can be exciting, but can also be a stressful time. Your closing date can contribute to how smoothly the transaction goes.

Moving can be exciting, but can also be a stressful time. What day your closing date falls on can contribute to how smoothly the transaction goes. There are a lot of moving parts on closing day, and it’s better to be safe than sorry considering the number of things that can pops up and cause a delay. Potential issues could be, a delay in funds from your bank, a contentious issue on the walk-through etc.

  • Don’t plan to move into your house until the day after closing. You are still “closed on time” if you close by the end of business on closing day.

  • If you are buying and selling a house, try to close the sale at least the day before the closing date for the purchase, so that your sale proceeds will be available to your lawyer to purchase your new home on time.

  • Don’t close on a Friday! (Particularly hot the Friday before a long weekend) This is because, if an issue pops up that cannot be resolved before the end of banking hours on closing day – you will have to wait until the next banking day to close, which means you lose the whole weekend.

There are many stresses that can pop up during the home selling or purchasing process, some of which are unavoidable, but it is always a good idea to avoid them where we can.

If you have any questions about this subject, you can call us at (902) 826-3070 or email us at info@highlanderlaw.ca to set up a meeting with one of our lawyers at our Tantallon law firm. You can also schedule a no commitment Issue Review Consult for $250+HST where you have the opportunity to explain your situation to a lawyer and get basic advice before deciding whether or not you'd like to retain us.  

By: Briana C. O’Grady J.D – Associate Lawyer

 The information and materials on this blog are provided for general informational purposes only and are not intended to be legal advice. Nothing contained on this blog is legal advice or constitutes a legal opinion. While it is our goal to provide information which is current, legislative changes and court decisions, among other matters, may result in some information no longer being current or accurate. You should consult a lawyer before relying on any information. The views expressed herein by individual contributing lawyers posting entries to the blog are solely those of the authors and should not necessarily be attributed to or considered representative of the firm of Highlander Law Group Lawyers