Tips / 干货

PRACTICAL GUIDES

Tips & Guides

Practical real estate know-how for Calgary & Edmonton — from a licensed Alberta REALTOR®.

BUYER GUIDES

BUYER GUIDE

After Your Offer Is Accepted: 5 Steps to Possession Day

An accepted offer is a big moment — but there are still a few important steps before possession day. Here is the road to closing.

01

The conditions

Most offers come with conditions — usually financing and inspection. The buyer must satisfy them by the contract deadline, or the deal can fall apart.

02

The home inspection

The buyer hires an inspector to go through the home top to bottom. Small issues are normal; the key is knowing what to ask the seller to fix — your agent negotiates that.

03

Financing & appraisal

The buyer finalizes the mortgage and the lender may order an appraisal. If it comes in low, the down payment or loan structure needs adjusting — stay close to your mortgage broker.

04

Conditions waived

Once each condition is met, the buyer removes them in writing. That’s the moment the sale goes firm — and the deposit is locked in.

05

Possession day

On possession day the lawyer closes the deal, funds transfer, keys change hands. In Alberta a real estate lawyer handles conveyancing — book early and bring ID.

Buying soon? Save this guide — and message me when you’re ready: Icedas Feng | 403-464-0856 | icedasfeng2@gmail.com

SELLER GUIDES

Icedas Feng, Licensed REALTOR® — Power Properties Ltd. | 403-464-0856 | icedasfeng2@gmail.com