SellingBuying
Selling Real Estate The Right WaySELLING REAL ESTATEThe Right Way

The Selling Guide

The BC Home Selling Guide

A chapter-by-chapter walkthrough of the selling process in British Columbia — from preparation through to completion. Educational guidance to help you make informed decisions.

07

Chapter 07

Closing & Completion

The final stage involves legal transfer of title and the handover of possession. Three dates matter here — and they are not the same thing.

1
Accepted OfferAn offer is accepted by the seller, subject to any conditions written into the contract.
2
Subject / Condition PeriodThe window during which conditions (e.g. financing, inspection) must be satisfied or removed.
3
Subject RemovalIf conditions are removed by the deadline, the contract becomes firm and binding.
4
CompletionTitle transfers at the Land Title Office; funds and documents are exchanged through lawyers/notaries.
5
PossessionThe buyer takes occupancy and receives the keys — negotiated separately from completion.

Key date distinctions

Completion Date

The date the transfer of title is legally registered at the Land Title Office.

Possession Date

The date the buyer takes occupancy and receives the keys. Often the same as or after completion.

Adjustment Date

The date used to divide taxes and utilities between buyer and seller. Often coincides with completion.

Dates are negotiated terms. For a specific transaction, confirm dates and their implications with your lawyer or notary.

What typically happens

Your lawyer or notary handles title transfer, the exchange of funds, and mortgage discharge.

Your lawyer or notary handles the transfer of title at the Land Title and Survey Authority, the exchange of funds, and the discharge of any existing mortgage. Adjustments for property taxes and utilities are calculated as of the adjustment date. Possession — when the buyer receives keys — is a separately negotiated date.

Questions about what happens next?

Talk to Roland
Closing involves legal and financial steps specific to your transaction. Engage a lawyer or notary early and confirm all dates and amounts with them.
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