Sometimes my Vancouver buyer clients ask if they can close on the Vancouver condo they’re purchasing in less than a month. The logistics depend on whether the buyer and seller can be easily reached to sign the lawyer’s documents. If they are, then a fourteen day close in easy to do.
How to Speed Up the Closing Process on a Vancouver Property
- Review and approve the strata documents prior to making an offer. This can be done in two days
- Have your bank or mortgage broker approve the condo building and give you a confirmation letter approving your mortgage. Let them know you will need funding in less than fourteen days
- After you successfully negotiate with the seller, order a building inspection for the next day and give your lawyer instructions to start conveyancing
- Remove subject to building inspection clause (assuming there are no issues of concern) and send a copy of the contract to your lawyer
- Have the real estate brokerage send conveyancing instructions to seller and buyers lawyer the day after subject removal takes place
- the deposit should be a bank draft, ensure your funds are liquid prior to making the offer Take a cheque to your lawyer the day prior to closing and sign required documents
Real Estate Closing Documents Can Be Sent Electronically
The parties to the transaction are no longer required to visit their lawyer’s office, they can have the documents sent to them electronically. On Possession Day Maggie meets you with the keys to your Vancouver property! Have a closing question about Vancouver real estate?
P.S. I am your Vancouver real estate condo realtor! hyper-local info and decades of experience!