There are 4 key dates in all Real Estate transactions:
1. Acceptance date - this is the date the buyer and seller agree to the price
2. Subject removal date - this is usually 7-10 days after acceptance. A buyer will want to build in some conditions before he completes on the sale. The most common subject clauses are "subject to getting a home inspection", "subject to getting approved for a mortgage" and if it's a condo "subject to getting copies of all the strata documents".
3. Completion date - this is the date the money is exchanged from the buyer to the seller via their lawyers or notary and the day the title to the property is transferred at the land titles office.
4. Possession date -- this is usually 1 or 2 days later. It's the day you get the keys and can move into the house. This is also Adjustment Day - when all taxes, maintenance fees, etc. become your responsibility and are adjusted.