If you’re looking to buy a home in Edmonton, here’s something most first-time buyers don’t realize: your closing date can make or break your mortgage experience. And one of the worst dates you can pick is June 30th.

Watch my video or read on for more details!

Why Not June 30th?

June 30th is the busiest day of the year for real estate closings in Alberta. It’s like going shopping on Christmas Eve at West Edmonton Mall, utter chaos. Lenders, lawyers, and funders are all overwhelmed, and that creates unnecessary risk for delays.

Closing on the Wrong Date Can Cost You

When files are delayed, money doesn’t get advanced on time. That could mean paying interest to the seller until the funds come through, and this is especially bad if June 30th lands before a long weekend. You could end up paying for extra days of interest simply because everything is backed up.

Pick a Smarter Closing Date

Here’s the fix: aim for an earlier date. Closing on June 25th or 26th gives lenders and lawyers time to iron out any last-minute issues. You still get to move in before the July long weekend, but without the stress or surprise costs.

Whether you are preparing to buy your first home or thinking about making a move, if you’re looking to get pre-approved for a mortgage in Edmonton, fill out my online application. I’m here to help you every step of the way.

About Jason Scott, Edmonton Mortgage Broker

Looking for a personalized mortgage solution? As an Edmonton Mortgage Associate, I’ll be your trusted partner who will help you get the right mortgage for your family home or Investment property. I’m Jason Scott, and I’ll be your Mortgage Broker in Edmonton.