When you're moving to Arlington, Virginia, you might think that the most important step in the process is when you sell your Oshawa real estate or when you put in an offer on a new property. But actually the day that you really become a part of the Arlington community is the day of your closing. This article is all about closing dates, what they are, how to set one, and what to expect when it comes around.

The closing date is the day on which you officially take possession of your new Arlington house. It's also the day that that your downtown Toronto homes for sale officially pass to new owners. Although you've declared your intention to buy the property when you put in your offer, and the seller declared his intention to sell it to you when he accepted, nothing is official until closing day. One or the other of the parties can still usually back out of the agreement until that time.

The closing date is set during your negotiations. When you drew up your offer, your real estate lawyer programmed all of your terms into it, including how much you were going to pay the seller toward the price of those Mississauga condos they wanted, who was going to pay the fees, such as the home inspector's fees, when the current owners would move out, and when the closing date would be. One of the options the seller has when he counters your offer is to change the closing date, so you must both agree on a date.

When you're setting the closing date, make sure all parties are available all day because there's a lot to do. Don't plan to head up to look at Brantford homes for sale later in the day or even attend your child's soccer game. Though the actual closing itself won't take long, if anything goes wrong you'll need to be around to decide how to proceed.

On closing day you'll pick up the cheque from your bank and take it to the meeting, at which you, the seller, and your lawyers and agents or Etobicoke real estate brokers will be present. The seller will then sign over to you the deed to the house, and the document will be registered with your city or county by a lawyer or notary. Then the seller gets a cheque for his money, minus his cut of the closing costs (lawyer's fees, real estate agent commission, etc.) Everyone must be present at the meeting unless you're in escrow, and then a title company acts on your behalf.