So, lesson learned! 

Here's a tip if you're looking to buy or sell a tenanted property:

Try to keep a few days seperation between the time frame of when the tenant moves out and possession date. 

And its not a tip that solely focuses on tenants, it just there is one extra step that seperates an owner occupied property and a tenanted, and thats the final walk through that  concludes the relationship between the seller and the tenant. 

An owner occupied home, they know whats going on in the home that they live in....non functional appliances, you name it.  But the owner of a tenanted property may not find out these details....ever!  So, its always good to make sure that the seller has enough time to conduct the walk through with the tenants.  And, if there's any outstanding issues, the sellers have a good time frame to rectify them.

Now for a first time buyer thats coming from a rental, this can be a little inconvenient.  If a tenant is moving out on the last day of the month and you're planning to move in on the first day of the month, theres a very good chance that the final walk through may not be performed.  So, if you take possession a couple days later, it means you'll have to find a place to stay for a few days.  

So lets take a look at a couple of options to complete:

1. You can take possesion the day after the tenants move out. This is the most cost effective way, but the property may not be delivered to you as promised in your contract of purchase and sale. 

2. You can take possession a few days after the tenants move.  This is not necessarily a cost effective method, but at least the sellers can conduct a proper walk through. 

And 3. You can complete in the middle of the next moth after the tenants move out.  This is the least cost effective method as you're also paying rent for your current property, however, the stress level will be very low as you can slowly move into your new property at your own pace till the end of the month. 

So really, theres no wrong answer on how you approach your completion, its just always good to know the cost vs stress on moving into your new home.  

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