July 12, 2019
October 24, 2018
Different jurisdictions have different processes.
Here in Winnipeg, the entire exchange of keys and money happens between the lawyers of both parties (seller and buyer)
Lets say that your are the home buyer and the possession date is August 4th, at 09:00 am. You should receive a letter from your lawyer, advising you of a meeting date with him/her and a request for a certified cheque in a specified amount of money.
You meet with your lawyer, usually about 4-5 days before the possession date, and you give him the cheque. In some cases, your lawyer may already have the key, and may give them to you with strict instructions that you may NOT enter the new home until the date and time specified on the offer.
You will often even have to sign a form stating that you have been cautioned against accessing the home too early.
If your lawyer does not have the key yet, he 'should' have it the day before possession, so you may have to return another time to pick up the keys.
On the morning of August 4th, 9:00 am, you can then enter your new home. Quickly check to make sure everything is ok, and that all inclusions like Fridge, Stove, Washer Dryer, etc are still in the home.
If you find anything wrong, first call your real estate agent who may be able to help. If your agent can not resolve the issue, your next call should be to your lawyer.
Listing Agent and Accredited Home Buyer Specialist
BBB Accredited, 5-star Google Reviews
Buying or Selling in Winnipeg? Bo Knows Real Estate!