Occupancy vs Closing vs Registration Dates

[greenleaf]

I was under the impression that the closing date was different than occupancy date (phantom rent and all), and the closing date actually referred to the registration date.

But in a letter regarding "Occupancy Date Adjustment" from the developer of my building, they simply referred to a "new closing date".

Does the closing date refer to occupancy or to when the building registers?

 

[andrejeffry]

I was under the impression that the closing date was different than occupancy date (phantom rent and all), and the closing date actually referred to the registration date.

But in a letter regarding "Occupancy Date Adjustment" from the developer of my building, they simply referred to a "new closing date".

Does the closing date refer to occupancy or to when the building registers?

closing date refers to the date when your unit is registered under your name. That's when everything is closed; the unit is registered, the payment is transferred and your mortgage becomes active

 

[carturo15]

No, for most of the builders on their agreements, the closing date is the occupancy date and the unit transfer date is when the building gets registered and the builder transfer the ownership.

 

[greenleaf]

No, for most of the builders on their agreements, the closing date is the occupancy date and the unit transfer date is when the building gets registered and the builder transfer the ownership.

Ah-hah.

Occupancy date = closing date.

Unit transfer date = registration and ownership transfer date.

 

[andrejeffry]

wow I don't know where that new definition comes from. Closing date in general has been defined as when the registration takes place.

Occupancy date is also known as interim closing date
Registration date is the real (or final) closing date

 

[Solaris]

ditto andrejeffry ... my understanding is consistent with your post above

 

[Joy Paterson]

i have info about this on my site... see the link:

http://www.joypatersonhomes.com/Pre-construction.html