Guide · Calgary new builds

Possession Day: What to Expect and What to Do

The day you receive the keys to your new Calgary home is exciting — but it also involves legal transfers, financial settlements, and final inspections that require preparation. This guide walks you through every step.

10 min readPublished February 18, 2026 · Reviewed By REP YYCPRPTY Network

What Possession Day Actually Is

Possession day is the date on which legal title to your new home transfers from the builder to you, and you receive the keys. It is a legal and financial event as much as an exciting personal one. You will typically not visit the home on possession day itself — your lawyer handles the transfer on your behalf while you wait for confirmation.

The Week Before Possession

The days leading up to possession involve several parallel activities. Being organized here prevents delays and last-minute surprises.

1

Confirm Your Lawyer Appointment

Your real estate lawyer needs to complete the title transfer on possession day. Confirm the appointment time, what to bring (ID, certified funds or wire), and the exact closing amount you need to have ready.

2

Arrange Your Closing Funds

Your lawyer will provide a Statement of Adjustments showing the exact amount owing after your deposits, mortgage proceeds, and prorated costs (property tax, condo fees if applicable) are calculated. This amount must arrive at your lawyer's trust account — typically by wire transfer or certified cheque — before the transfer can complete.

3

Confirm Your Mortgage Is Ready

Contact your mortgage broker or lender to confirm the mortgage advance is approved and will be sent to your lawyer on time. Delays in mortgage funding delay the entire closing.

4

Arrange Home Insurance

Your lender requires proof of home insurance in place before releasing mortgage funds. Insurance must typically be bound (effective) as of possession day. Do not leave this until the last minute.

5

Schedule Utility Transfers

Contact ENMAX (electricity), ATCO Gas, and your water utility to set up accounts effective on possession day. Many providers allow this 1–2 weeks in advance. You do not want to arrive at a home with no power or heat.

6

Book Your Moving Truck

If you plan to move in on possession day, ensure your truck is booked and your building access is confirmed. Many buyers take possession in the afternoon and begin moving the next day.

The Statement of Adjustments

Your lawyer will prepare a Statement of Adjustments — the definitive financial summary of your closing. It reconciles your purchase price, deposits paid, mortgage proceeds, and prorated amounts. Review it carefully before possession day.

Common Statement of Adjustments Items

Purchase priceFinal agreed price including any addenda
Less: deposits paidAll deposit installments you paid the builder
Less: mortgage proceedsFunds your lender sends directly to your lawyer
Property tax adjustmentProrated credit or charge based on what the builder has pre-paid
Condo fee adjustment (if applicable)Prorated condo fees if possession is mid-month
GST / New Housing RebateDepending on whether builder has absorbed rebate or not
Title insuranceOne-time fee typically $200–$400
Legal feesYour lawyer's fees and disbursements
Land title transfer feeCharged by Alberta Land Titles

Review the Statement Early

Request a draft Statement of Adjustments from your lawyer at least 3–5 business days before possession. Errors do occur — incorrect deposit credits, wrong tax adjustments, or missing rebate amounts — and corrections take time. Do not wait until the morning of closing.

What Your Lawyer Does on Possession Day

Most buyers do not attend the builder's site on possession day itself. The legal transfer happens through your lawyer's office. Here is the sequence:

1

Your lawyer receives mortgage funds from your lender and confirms your closing funds have arrived

2

Your lawyer reviews title for any builders' liens, caveats, or encumbrances that should not be on title

3

Your lawyer sends the balance owing to the builder's lawyer (trust to trust)

4

Once the builder's lawyer confirms receipt, they release authorization for keys to be transferred

5

The title transfer is registered at the Alberta Land Titles Office in your name

6

Your lawyer contacts you to confirm possession is complete and advises where/how to collect keys

Builders' Liens — Check Title Before Closing

Alberta's Builders' Lien Act gives trades and suppliers the right to register a lien against a property if they haven't been paid. Your lawyer will search title before closing. If a lien is registered, funds must be held back in trust until it is resolved. This is rare but can delay possession. Ensure your lawyer performs this search.

Picking Up the Keys

Key release typically happens one of two ways:

Builder's Show Home / Sales Office

Most new build builders require you to pick up keys at their sales centre or show home. They will have you sign a few documents confirming receipt of the property. Bring photo ID.

Key Box / Smart Lock at Property

Some builders use a lockbox code or smart lock that they activate once possession is confirmed. Your builder should advise you in advance which method they use.

Your First Hour in the Home

Before you start moving furniture, do a quick walkthrough with fresh eyes. You are now looking for anything that was not there during your pre-possession walkthrough — damage from the final stages of construction or the builder's move-out process.

Photograph and video the entire property — every room, all appliances, garage, exterior
Test every light switch, outlet, and breaker in the panel
Run every faucet and check under sinks for leaks
Test the furnace, A/C (if installed), and hot water tank
Test all appliances included in the build (dishwasher, range, fridge, washer/dryer if included)
Check that all windows open, close, and lock properly
Walk the exterior — any new scratches on siding, stucco cracks, or damage to the garage door?
Note any deficiencies not previously documented in writing immediately to your builder

What to Do If You Discover Issues at Possession

If you notice deficiencies after receiving keys that were not documented at your pre-possession walkthrough, act quickly:

Contact Your Builder's Warranty / Customer Service Team in Writing

Email is preferable to phone calls. Document the issue with photos and send them the same day. This creates a dated paper trail that is important for warranty claims.

Do Not Assume It Is Covered — Document It

Some builders argue that issues discovered after possession were caused by the buyer. The more documented evidence you have from Day 1, the stronger your warranty claim position.

For Major Issues: Contact Your REALTOR® and/or Lawyer

If there is a significant deficiency that affects habitability (major water leak, no heat, incomplete structural work), contact your REALTOR® and lawyer immediately. There may be holdback provisions or remedies available depending on your purchase contract.

The Possession Day Checklist

Before Possession Day

  • Certified funds or wire transfer arranged
  • Lawyer appointment confirmed with correct time
  • Home insurance policy bound and effective
  • Utilities set up with ENMAX, ATCO Gas, water
  • Mortgage confirmed as ready to advance
  • Moving truck or service booked

At Key Pickup

  • Photo ID
  • Copy of purchase agreement
  • Builder warranty documentation
  • Contact number for builder warranty team
  • Phone charged for photos/video
  • Notepad for documenting issues

First Hour in Home

  • Full video walk-through before moving anything
  • Test all switches, outlets, plumbing
  • Test all appliances
  • Check windows and doors
  • Walk exterior and garage
  • Photograph meter readings

First Week

  • Register for builder warranty portal
  • Submit any new deficiencies in writing
  • Set up MyCity account for property tax
  • Confirm internet / cable installation date
  • Change all entry door codes or locks
  • Review condo documents if bare land condo

Common Possession Day Problems (and How to Handle Them)

Possession is delayed at the last minute+
This can happen due to construction not being complete, failed inspections, or unfunded liens. Your purchase contract should specify a longstop date and what compensation applies for builder delays. Review your contract and contact your REALTOR® and lawyer immediately.
Mortgage funds are not received by your lawyer in time+
Contact your mortgage broker the morning of possession. Funding delays are usually resolved same-day, but they can shift possession to the next business day. Alert your builder's lawyer early so both sides know.
You find something significantly wrong when you pick up keys+
Do not refuse possession over minor items — you will still be in breach of contract. Document everything in writing with photos. Contact your lawyer and REALTOR® to understand your options. Most issues are handled through the warranty process post-possession.
The home is not cleaned or debris is left behind+
Most purchase contracts require the builder to deliver the home in a broom-clean condition. Document with photos and notify the builder in writing. Most will send a cleaning crew within a day or two.
Appliances, fixtures, or upgrades you paid for are missing+
Cross-reference your purchase agreement and design center selections against what is in the home. Notify the builder in writing immediately. Missing items are typically remedied quickly as they are clearly documented in your contract.

Know Your Numbers Before Possession Day

Use our closing cost calculator to estimate all the fees due at closing — legal fees, land title transfer, title insurance, and adjustments.

Closing Cost Calculator

Related Guides

Source note

Sources
Jurisdiction
Alberta, Canada (Calgary and surrounding municipalities)
Applies to
New construction homes purchased from a builder in Calgary and the surrounding Alberta municipalities.
Last reviewed
2026-09-03
Limitations
General information written for Alberta buyers. It does not describe any specific builder's contract, any specific lot, or your financial situation.
What you should verify
The exact wording of your purchase agreement, the builder's current incentive sheet, warranty enrolment for the specific home, and any figure you intend to rely on.

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