Paragraph 7 of the form of Agreement of Purchase and Sale commonly used in Ontario provides for a closing to take place before 6:00 p.m. on the date of closing. It is a commonly held misconception that this paragraph means that sellers have until 6:00 p.m. to vacate homes that they have sold. This is NOT the case! Technically, the ownership of the home changes at the time that the Deed to the property is registered by the purchaser’s lawyer into the names of the new owners. This can occur at any time during the course of the business day. Usually, most registrations occur between 2:00 and 5:00 p.m. Accordingly, I recommend to my sellers that they attempt to be finished their move from their existing residence by mid to late afternoon on the day of closing (i.e. by 4:00 p.m.). I inform my purchasing clients that, although they may be the legal owners of the home at 1:20 or 2:00 p.m. it is not a good idea to arrange to be moving into the residence until perhaps 4:00 p.m. Naturally, on many occasions purchasers arrive with the intention of taking possession of their new home at a time when the sellers have not yet fully vacated. My advice to both purchasers and sellers is that they cooperate with each other in allowing their movers to simultaneously move furniture and belongings into and out of the house. Surprisingly, I receive very few frantic calls during the course of a year from clients who are experiencing difficulty as a result of their purchasers attempting to move too early or the vendors attempting to stay on the premises into the evening!
