Handling the Keys on Closing

Are Albertans Mailing Their House Keys Back To The Bank?

Question:

How do you handle the keys on closing?

Answer:

Assuming that I am the Listing Agent:

  1. After the final inspection, I change the Lockbox (to my oldest one),
  2. Following notification of the closing from the Vendor’s solicitor,
  3. I call the Buyer’s agent
  4. Advise of the new Code
  5. Tell them that the Lockbox is theirs to keep
  6. All other sets of keys are left by the kitchen sink,
  7. So far, everybody has been happy

There’s no need for the Buyer to travel 90 minutes to pick up the keys from the lawyer and 90 minutes back, while the moving people charge $450.00 / hour.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

Comments 1

  1. Great option.
    I have an old one hidden in my back yard as I have locked myself out in the past and had to kick in a basement back window to get in.

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