What is the typical closing period in Edmonton?
Quick Answer
Short answer: Most resale transactions close 30–45 days after condition removal; new-build quick possessions run 45–60 days.
Detailed Explanation
Once conditions (financing, inspection, condo docs) are waived, lawyers need roughly four weeks to pull title, prepare documents and coordinate mortgage funds. A 30- to 45-day gap balances buyer prep time with seller carrying costs.
Shorter closes (< 15 days) are possible but risk costly rush fees if lender funding or RPR updates lag. Longer closes (> 60 days) may invite rate-lock expiry and additional storage or interim housing costs.
- Key date triggers: condition removal → close → possession
- Rush fees typically add $200-500 to legal costs
- Extended rate holds may cost 0.10-0.15% premium
Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.
Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB
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