Congratulations! You have bought a house!
Your offer has been accepted, the conditions have been removed, and now you are waiting to take possession! This is a very exciting time in any home buyers journey. Whether or not you are a first time home buyer or a seasoned home buyer, there is still lots to think about over the days, weeks and months until you take possession. This can be overwhelming, and as realtors, we understand that! We are still here for you, to help you with the details and to answer any questions you have along the way.
Once your conditions have been removed on your dream home, the first thing you need to do is to have your Realtor send your offer to purchase and all pertinent documents to your lawyer so that they are able to get started on their portion of the work. You will need to meet with the lawyer to sign all documents. The lawyer will look after the land transfer tax and property taxes that you will be required to pay prior to possession. Your lawyer will let you know the amount of funds to bring to them prior to you going to sign the all of the papers to ensure that you have it available to take to them when you go and meet with your lawyer. The lawyer its the one who makes all the possession magic happen… You will not be able to get possession without signing all documents with them!
You will also need to be in touch with your bank and set up a time to sign the mortgage documents with so that they can pass everything along to your lawyer.
You will need home insurance! This really important to have set up as most financial institutions will not fund your mortgage without it. You need to be protected! Ensure that your insurance is effective the day of your possession. The insurance broker that you choose will have a lot of questions regarding your home that they will need answered to get you the best insurance both for your and for your home. Some of the questions will be regarding the plumbing, electrical, age of the roof, furnace, a/c etc. Your realtor will help you to collect all of this information! If you have had a home inspection, a lot of the information is typically included in the home inspection. It is wise to get the insurance process started as soon as all conditions have been removed! Do not wait until the last minute!
But wait!! You are still not done! I know… I see your overwhelmed, blank look. Now… Aren’t you glad you have an excellent Realtor who is there to answer all your questions and to ensure that you have everything done?! Yah… Me too!!! :)
If you have school aged children, you can now take your accepted offer to the school in your area and have your littles registered there.
The week before possession, make sure to call Hydro and the City or RM that you are in to set up an account for Hydro, Electricity and Water / Waste. Sit tight with this one for a minute… we will come back to it.
Make sure you to change your address…. With Everybody! Your bank, your dentist, your doctor, your employer, your drivers licence… EVERYBODY! Think you missed somebody? Not a problem, make sure you have your mail forwarded through Canada Post to ensure you don’t miss a thing!
There is more…. hang in there… we are almost done!
You will likely want internet, cable, satellite, or cable at your new home. Call now to get that all set up! If your cable company requires an appointment to set it up, make it now. That way there is no need to wait past possession date to have this all set up.
Now… YOU MADE IT!!! This is possession day!
You have your keys… you have your time of possession… you have a house!
First things first though on possession day. Hydro, Electricity, and Water (remember, we said we would come back to this, here is is!). When you walk into your new home, make sure that the first thing you do is read your meters and call them in! Remember the accounts that you already have set up? Yep! It will only take a couple of minutes to call in your first read. Do it now before you forget. I know, you are SOOO excited to start moving your boxes and furniture in… But, stick with me… we are almost there! Make sure you check your to ensure that your A/C works, AND your furnace. I know it can sound odd turning your heat on in the summer or your A/C on in the winter, but you need to make sure it works. Worst would be to turn it on in the appropriate season and find that you have no heat or are melting in the summer with no A/C. If appliances have come with your home, ensure that they all works well. Check your fridge, run a cycle through your dishwasher (this would be a good time to through at dishwasher cleaner in as well). Turn all the elements on your stove on and your oven. Run a load of laundry through your washer and dryer (a couple of towels work great!). Everything is working? AWESOME!! WELCOME HOME! Start bringing in your belongings! You are officially home!
Always remember, your Realtor is here to help make this transition easy for you. We are here for you! Welcome Home!