Whether you are buying or selling or both it can be a very exciting but stressful process.
For most people, their home is their largest single investment.

Buying Real Estate

Information we will need if you are buying:

• A copy of the Contract of Purchase and Sale (through your realtor if you used one OR directly from you if it is a private deal)
• Full names, occupations and contact information for all of the buyers
• Your mailing address if you will not be moving into the new property
• Your contact numbers: phone, e-mail, and fax numbers
• Whether you are to be registered as Joint Tenants or Tenants in Common
• If you are a first time buyer, your birth date, Social Insurance Number and a list of where you have resided for the last two years
• The name of your realtor, lender, mortgage broker, and insurance agent
• Name of your strata management firm or the person who manages the strata corporation
• Information regarding any existing tenants
• Surveyor’s Certificate, if one is available
• Two pieces of identification, one must be photo ID

Closing Steps (Purchase)

• Step 1 – Contact our office as soon as you have an accepted Contract of Purchase and Sale and have removed all subjects to avoid rush fees. Let your realtor/banker/mortgage broker know that you are using our office for your transaction. If you are not using a realtor, you must provide us with a copy of your Contract.
• Step 2 – We will need to gather information from you including how you wish to hold title to the property if you are buying with your spouse or partner. Don’t hesitate to contact our office if you have not heard from us at least 2 – 3 weeks before the closing.
• Step 3 – We conduct a title search and obtain tax information and any additional information necessary to prepare Statements of Adjustments. If you are getting a mortgage, we will also need to obtain an insurance binder with “loss payable” to your lender.
• Step 4 – We prepare closing documents including title transfer, mortgage, property transfer tax forms and Statements of Adjustments. We will then forward the seller’s closing documents to the seller’s lawyer or notary for execution.
• Step 5 – 1 – 3 days before closing is when we usually meet with you to sign documents and obtain the balance of the down payment or equity. The balance of funds will need to be paid to our office by certified cheque or bank draft payable to Charlene Silvester, “in trust”. If your funds are invested or in a cyber bank please ensure that they will be available for deposit in advance of closing.
• Step 6 – We will electronically register the transfer and mortgage documents and arrange to deliver to the seller’s lawyer or notary the sale proceeds.
• Step 7 – Call and congratulate you on your new purchase of a home and let you know that the final registration documentation and State of Title Certificate will be mailed to your new address.
• Step 8 – Your realtor will make arrangements for the house keys for the Possession Date as set out in the Contract of Purchase and Sale.
• Step 9 – Move in and enjoy your new home!