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What is the recommended closing date when selling a property (2 bedroom apartment) in Toronto, Canada?

December 31st, 2008 Leave a comment Go to comments
  1. Chigu
    January 1st, 2009 at 13:37 | #1

    The best thing to do is put ‘flexible’ as the closing date. That way you are not restricting yourself to a particular buyer (i.e. those that need to move in quickly, or those that can’t move in until a later date). Furthermore you can negotiate price by using you willingness to meet their closing date. I just recently bought a house, and the seller needed to sell quickly (as they purchased another home), and I didn’t need the home until later. So what I did was put a closing date in my offer approximately 120 days in the future; the seller negotiated with me and the sooner the closing date became the more he was willing to go down in price. He was willing to meet my 90 day closing but it would mean that he wouldn’t discount the price of the house much, but if took it in 60 days he would give it to me for less.

    So by being flexible in your closing date you can avoid the buyer using the closing date as a negotiation tactic, and also it will provide you with more room to negotiate with the buyer.
    ‘You want the apartment in 120 days?? ‘ sure I can do that for you, but the price is fixed’. etc etc.

  2. Gerald
    January 4th, 2009 at 08:19 | #2

    Closing will not happen till someone buys the property. So I have no idea what 1 mo or 3 months or 6 month from the MLS date has to do with the selling and closing of the property…

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