Changing Your Possession Date?

Hello, homebuyers!

A question I often hear is, "Can I move in early if the home is not occupied?" The short answer is: potentially, yes. But let's dive into the details to understand how it works.

When you signed the offer to purchase contract, you agreed on a specific possession date and time. This date is crucial because it marks the moment the home legally becomes yours. Moving in before this date can lead to complications, as the property isn't officially yours until then.

However, I understand the excitement, and sometimes you may want to move in earlier than planned. In this case, there's a solution: amending the original offer to purchase. This process involves both the buyer and seller agreeing to a new possession date. If both parties are on board, you'll need to sign an amendment agreement to make it official.

It's important to communicate openly with your real estate agent if you find yourself in a situation where an early move-in is necessary. They can guide you through the process and help ensure everything is handled smoothly. By following the proper steps, you can potentially adjust your move-in date without any legal hiccups.

Before requesting an amendment to change the possession date, there are a few things to consider. Be sure to check in with your mortgage broker or bank, as sometimes an amendment to the offer to purchase might require your bank to "re-do" the mortgage approval. Also, ensure that everyone involved is up to speed once the possession date amendment has been signed. Make sure your lawyer is aware of the change, and consider reaching out to your insurance company if you had already set up insurance.

As always, talk to your realtor. They can advise if amending the offer to purchase to change the possession date makes sense in your unique situation!

Your friend in real estate,

Sam Scribilo