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Help understanding “Firm Occupancy Date” vs “Closing Date” in this scenario

TheKingEast

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Have a condo townhouse that’s nearly completed. I got a letter that says the townhouse is almost complete and a Firm Occupancy date was given for this month. Ok, I’ve purchased a number of times before I get it. Anyways, I’m talking to the builders office about cupboards and the lady casually said the townhouse complex is already registered (I know this is true as one of them was just sold on mls) and final closing will be on the day of occupancy.

Here is my confusion. Shouldn’t I have received documentation that stated the final closing date in writing? I would have not known about closing if the builder didn’t casually mention it while discussing other things.

I’ve asked the builder to confirm this and that has been a waste of time. I read tarion and all it says is firm occupancy is not a final closing. As I’ve always purchased condos previously and closed after taking possession, can someone clarify this for me? Builder hasn’t asked for my lawyer info so I’m confused?

And I’d course trying to get a mortgage you need the final closing date.
 

tripwire

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I ran into a similar situation as well. I got an email re: firm occupancy, and about a month before that date, got a new notice saying that it was going to be final closing as well - and \was instructed to get the lawyers and mortgages all going. I was still a bit surprised but a month was doable - if they had only given us 2 weeks or less that would've been much tougher (our lawyer happened to plan to retire and so we had to find a new one).

But yes, you should've received formal documentation from the builder that your firm occupancy will also be final closing. So pretty strange that you haven't!
 

TheKingEast

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I ran into a similar situation as well. I got an email re: firm occupancy, and about a month before that date, got a new notice saying that it was going to be final closing as well - and \was instructed to get the lawyers and mortgages all going. I was still a bit surprised but a month was doable - if they had only given us 2 weeks or less that would've been much tougher (our lawyer happened to plan to retire and so we had to find a new one).

But yes, you should've received formal documentation from the builder that your firm occupancy will also be final closing. So pretty strange that you haven't!

Yea, I have nothing written that says closing date. I'm closing in a couple weeks. At least I got my mortgage in order but if I didn't have that conversation I would have been sitting around twiddling my thumbs having no clue that I'm supposed to close.
 

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