Closing The Sale

 

What to do to close the Sale

property_management_2Before the house can formally change hands, there are still a few things to do.

Here’s what to expect on or before closing day:

  • Your lawyer and the seller’s lawyer will arrange to transfer title of the property from the seller to you
  • The mortgage money will be transferred to your lawyer’s trust account, and then to the seller
  • Your lawyer will bill you all additional expenses — land transfer taxes and any outstanding legal fees.

 

At this time, be sure to:

  • Check with your lawyer that everything is as stated in the offer-to-purchase
  • Do a walk through with your agent. Is everything in good condition? Is everything you wanted there?
  • Once you’re satisfied and the keys to the front door are in your hands, there’s nothing else to say…
  • Except… welcome home.

The above information is courtesy of CREA: The Canadian Real Estate Association