There is nothing quite like Possession Day! After weeks (sometimes months!) of searching, viewing homes, negotiating, signing paperwork, and counting down the days, the moment you have been waiting for is finally here. You are about to get the keys to your new home!
Whether you are a first-time buyer, moving your family into a bigger space, or downsizing into your next chapter, Possession Day is an exciting milestone. It is the day all those plans start to feel real, and I can tell you, the excitement never gets old!
But what actually happens on Possession Day? Let's walk through what you can expect so you can enjoy the excitement without wondering what comes next.
🗝️ So, When Do You Get the Keys?
In Alberta, possession is typically scheduled for 12:00 noon, unless the purchase contract specifies a different time. However, noon does not mean you will automatically have your keys in your hand the moment the clock strikes twelve!
Before keys can be released, the buyer's lawyer must confirm that the necessary funds have been received and the transaction is ready to close. The seller's lawyer must also be in a position to authorize the release of the keys.
Sometimes everything lines up perfectly, and the keys are ready right around noon. Other times, there may be a delay while the lawyers finalize the details. It can feel like the longest wait ever when you are standing there ready to move in, but patience is important!
Our tip? Have a little flexibility in your moving-day schedule. Avoid booking everything down to the minute, and remember that your moving truck, cleaners, and helpers may need to work around the actual key-release time.
đź“‹ What Should You Do Before Possession Day?
A little preparation goes a long way toward making your big day smoother!
1. Make sure your financing is ready. Your mortgage conditions should be satisfied, your down payment and closing funds arranged, and your lawyer should have everything needed to complete the transaction.
2. Meet with your lawyer. Before possession, you will typically sign the necessary documents and arrange payment of your closing costs. Your lawyer will explain what is required and confirm when the transaction is ready to close.
3. Arrange your utilities and insurance. Contact your utility providers to arrange service for your possession date, and ensure your home insurance is effective as required by your lender and purchase agreement.
4. Plan your move. Confirm your moving company, organize boxes, arrange help, and keep essentials somewhere easy to find. You don't want to be searching through twenty boxes for your coffee maker on your first morning!
5. Know what to expect from your property. Your purchase agreement outlines what should remain with the home. If you have questions about appliances, keys, garage remotes, or other included items, your Realtor can help clarify the details.
The Big Moment: Getting Your Keys!
Once the lawyers confirm the transaction is complete and authorize the release, you can finally collect your keys!
This is the moment to celebrate. Take a deep breath, unlock that front door, walk through your new home, and let it sink in. This place is yours to make your own!
You may want to take a few photos, check that you have the keys and garage remotes, locate the electrical panel and water shut-off, and familiarize yourself with the home before the boxes start arriving.
And don't forget to celebrate the little things. Your first coffee in your new kitchen, your first meal at the table, or the first time you sit down in your new living room can become memories you will treasure for years.
We're Here Beyond the Offer!
At Russell Realty, Carl and I believe our job is about more than finding you a house. We want you to feel informed, supported, and prepared throughout the entire process — from the first showing to the moment you walk through your new front door.
Possession Day should be exciting, not stressful! Knowing what to expect can help you relax, enjoy the milestone, and focus on the wonderful new chapter ahead.
Thinking about buying a home in Calgary or the surrounding areas? Whether you are just starting to explore your options or are ready to make a move, we would love to chat.
Reach out to Carl and Gwen Russell at Russell Realty with CIR Realty. Let's talk about your plans and help you take the next step toward a place to call home.
Here's to new keys, fresh starts, and making wonderful memories!
