How Long Does It Take to Close on a House in Manitoba?

Once an offer is accepted, buyers and sellers want to know how soon the keys change hands. The answer in Manitoba is whatever the offer says, so long as each step can actually be completed by then.

This article walks through the steps that most often decide how long closing takes, and the Manitoba rules that can add time. It is a general guide, and your own offer governs your dates.

This article covers the law of Manitoba.

The offer sets the calendar

Your offer normally states a possession date, an adjustment date and deadlines for conditions. Those dates are the real timeline. A shorter closing leaves less room for problems, and a longer one gives more time to arrange financing, sell another property or prepare to move.

Work backwards from the closing date. List what must happen before it: conditions removed, mortgage approved, documents reviewed, funds arranged, and the paperwork signed. If any step looks tight, raise it with your lawyer early rather than near the end.

Steps that drive the length

Mortgages and encumbrances are covered by the Real Property Act, which includes discharge of a mortgage, and caveats are dealt with separately in the Act. If something unexpected shows on title, it may need to be cleared before closing, which can push the date back.

Condominium purchases can add time

In a condominium resale, the seller must give the buyer a package including a seller disclosure statement, a corporation disclosure statement signed within 90 days, the declaration, budgets, financial statements, by-laws and rules, and any reserve fund study or summary. The buyer's seven-day cooling-off period starts on the later of signing and delivery of those documents.

If the unit is new and the declaration and plan are not yet registered, a different package applies. A buyer may also cancel for a material change within seven days of the seller's written notice, but not after taking possession. Allow time for the documents to be read, not just delivered.

Money, tax and registration

Land transfer tax is generally payable by the buyer, with some exceptions, plus a registration fee. It is due on registration of the transfer of title, and it is based on fair market value on the registration date, not simply the contract price. The brackets run from nothing on the first $30,000 up to 2.0% on the amount over $200,000.

First-time buyers using registered savings should plan ahead. The Home Buyers' Plan withdrawal limit is $60,000, and a person can make an HBP withdrawal and an FHSA withdrawal for the same home if all conditions are met at each withdrawal. Land titles registrations in Manitoba are electronic and run through Teranet Manitoba. Having your funds and signed documents ready in good time helps keep the registration on schedule.

Situations that slow a closing, and what to do

• Estate sales: transferring a deceased sole owner's house generally needs a court grant, then a transmission to the personal representative and a transfer to the buyer or beneficiaries, and these can be filed together. For small estates, an administration order can vest land directly in the beneficiary without a transmission to the representative. A grant from another province may need to be resealed or an ancillary grant obtained in Manitoba.
• Joint owners: if one joint owner has died, the survivor can apply to be registered as owner without going through the estate.
• Tenanted homes: if the owner ends a tenancy because of a sale, the notice is one month where there is no fixed end date and the vacancy rate is 3% or higher, and three months where the vacancy rate is below 3% or the tenancy has a fixed end date. A fixed term cannot end before its end date, a tenant with a school-aged child living in the unit cannot be required to leave before the school year ends, and a mobile home site needs at least six months' notice unless the tenant rents both the home and the site under a single agreement.
• Separated owners: a home in which a spouse or common-law partner has an interest and which is or was their family residence is a family home under The Family Property Act. How a separation affects the sale and its timing depends on your situation, so it is worth confirming with a lawyer early.

• Book your lawyer as soon as the offer is accepted.
• Send the lender and your lawyer every document requested, promptly.
• Note every condition date in a calendar.
• Confirm your funds for closing and land transfer tax well before the date.
• Ask your lawyer which dates in your offer have the least room to move.

Frequently asked questions