When is my home actually sold?

 

(Transcript)

We’re often asked, “When is my home actually sold? When does the sold sticker get put up?” Now there’s two types of exchange. You may exchange conditionally which is subject to a five day cooling off period, or unconditionally which means a 66W certificate has been issued and there is no cooling off period. In that case, once it is unconditional, a sold sticker will then be put on your board. Isn’t officially sold til it settles, and settlement can be anywhere from six weeks through to 90 days, and that’s where the title’s transfer and the money actually goes through, and the name on the title actually gets changed on the property.

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