Buying Kamloops Real Estate > Home Buyer's Guide > Closing the Deal > Behind the Scenes of Closing Day





Closing day is the day when all the components of buying and selling a home finally come together. Each party’s lawyer will have completed the details required to ensure all legal aspects are covered, respectively. On this day, you'll likely take possession of your new home, get the keys and maybe even move in. It's a busy time for everyone involved! However, before completion day arrives there are closing details to complete in order ensure the smooth transfer of the property in question.


Lawyer or Notary Review

A lawyer or notary represents your interests and ensures that the legal documentation is properly completed. Your lawyer or notary receives a copy of the offer, they review the conditions of the sale, the contract and the information for title transfer and registration. Every condition on the offer must be met by the completion date.

It's your lawyer or notary's responsibility to search the title of the property to ensure that the home is purchased without any legal problems and that there are no liens on the home or the personal property of the seller that forms part of the agreement. They also need to contact the municipality for taxes, zoning compliance, and public utilities within the time stated in the offer. This ensures that there are taxes outstanding and the home meets established guidelines.

Preparing a statement of adjustment is also part of your lawyer/notary duties. This confirms the selling price, adjustments and the balance. The lending institution will also draw up a certified cheque for your lawyer to be held in trust.

With the purchase price of a resale home, the closing is always “subject to usual adjustments.” This means that any amount that the seller has already prepaid will be adjusted so that the home buyer pays the excess amount back to the seller and vice versa. These adjustments can include: municipal property and school taxes, monthly condominium maintenance fees, first and last month's rental for rental properties that may be in the home, utilities, such as hydro and water including GST. Your lawyer will prepare a statement of these settlement charges.

Surveys & Inspections

Your lender requires an up-to-date land survey of the property. This document records the location of the home on the lot as prepared by a certified land surveyor. It records any changes to the exterior of the home since construction. Any additions such a deck or building additions could affect your taxes, property assessments and zoning restrictions.


If a home inspection was part of the conditions, it should be completed by the date specified in the contract. You should also be satisfied with the report and any repairs requested as a result of the report findings.

Financial Matters

Financial details should be finalized and ready for implementation by the completion date.

Utility Services

Contact utility, cable and phone companies to ensure connections are in place on your moving day.


Update your insurance policy so coverage begins on your new home and property upon closing. Your lawyer also needs a copy of the policy before closing.

Completing the Contract

On completion day your lawyer pays the vendor, registers the home in your name and delivers the title. Your REALTOR® will provide you with the keys to your new home once everything has completed properly. Be sure you have all the keys, including side door, garage door, shed, mailbox, garage door opener, etc. Even still, you may want to change the locks or have them re-keyed.


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