Toronto Real Estate: Close your home purchase on a Wednesday
May 2, 2014
Timing is everything! And believe it or not, when you’re buying a property, you should take your closing date into account.
The top tip from Mark Weisleder’s most recent column: close on any day but Friday, especially the last Friday of the month. Why? “The last Friday of a month is typically the busiest day in most real estate law offices, especially in the summer. This mean many deals won’t be able to close until late in the day. Worse, if the deal has to be extended, you don’t get keys until the following Monday… or maybe Tuesday if it is over a long weekend.”
It’s an informative piece but the one part that may not work for everyone is the advice on arranging for bridge financing – while it can be nice to have a couple of days in between the sale and purchase to move, you have to weigh the cost against the benefits.
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