1. Call RealProperty

We will provide you with a no obligation FixedCost™ quotation for services and closing costs. Upon acceptance of your quotation and confirmation of representation by one of our Network Real Estate Lawyers we can arrange for a review of your agreement, status certificate or other information as required. Please arrange for your Realtor to email/fax a copy of your complete Agreement of Purchase and Sale including any amendments and waivers immediately so that we me perform all the necessary searches on time.

New Home Buyers

New home buyers should not finalize their agreements with their builder unless their agreement of purchase and sale is reviewed by a  real estate lawyer. There could be up to $5,000.00 or more in additional costs to the buyer in the agreement plus responsibilities for the buyer to pay escalating costs passed on by the builder. Most builders will allow 5 business days for a Lawyer to review the agreement. In the case of condominiums you have a 10 day cooling off period in which to change your mind and cancel the transaction and get your deposit back without deduction.

New home buyers are required to inspect the property for deficiencies prior to closing and are given a Tarion New Home Warranty Certificate after the inspection. Financial institutions require a copy of the New Home Warranty Certificate before they will release mortgage funds to the lawyer. Your new home inspection should take place no later then 3 days before closing in order to close on time.

2. Satisfy any Outstanding Conditions

Your “Agreement of Purchase and Sale” may contain conditions you must satisfy within a specific time. We will be happy to advise you on how to fulfill these obligations or cancel the Agreement if conditions cannot be satisfied. Do not waive any condition until you are sure that all requirements have been met.

3. Arranging a Mortgage

You are responsible for arranging your mortgage with a lending institution. Make sure you give your lawyer’s name and RealProperty’s address, phone and fax numbers to the lender’s mortgage specialist or mortgage broker.

Prior to signing a waiver regarding the financial conditions read the lenders commitment carefully. This commitment contains conditions you must fulfill in order for the transaction to go forward. Some lenders will not send us the mortgage instructions required to complete your file until all of the lender’s conditions have been fulfilled. Other lenders will not advance mortgage funds to your lawyer until all the conditions have been fulfilled. Make sure you have provided the lender’s mortgage specialist or mortgage broker with all of the required documentation and that they have forwarded the documents on to the lenders central mortgage department. Final approval to use the mortgage funds and close the transaction rests with the lenders central mortgage department. BE WARNED incomplete files will not close on time! We must receive your mortgage instructions no later then 7 days prior to your closing date in order to have your file ready for completion.

4. Tenants Must Give Proper Notice

Tenants of rental properties must give written notice on a proper form. Tenants under a lease must give notice 60 days prior to the expiry date of the lease. Tenants on a month to month tenancy must give 60 days notice on the payment date. Your deposit of one months rent should be applied to the last month you are in possession of the premises. Make sure you are paid interest on your deposit. For more information about forms, please visit www.orht.gov.on.va/frms/index.html.

5. Arrange Fire Insurance

If there is a mortgage on the property you are buying you must arrange fire insurance coverage in order to close your transaction. Your insurance agent must provide us proof of insurance in the form of a “Binder Letter” faxed/emailed  to RealProperty no later then three days before closing. The “Binder Letter” will show the name of the insurance company, the amount of coverage, its expiration date and the name of the lenders/mortgagees as loss payees.

We cannot close your purchase transaction without a proper ‘Binder Letter.” If you are buying a freehold property for “cash” (no mortgage) you have the option of not insuring the property. You will be required to sign a waiver and we strongly recommend against any such action.

6. Arrange New Utility Accounts

You are responsible for setting up new accounts for all utilities, water, hydro, gas, telephone, cable, etc. These companies require personal and credit information, we recommend that you reconfirm new utility accounts at least one week before closing to avoid disappointment.

7. Arrange your Move

Whether you plan to hire a mover or rent a moving truck, you should make arrangements as soon as possible. It’s a good idea to get two or three different estimates from moving companies. Also, look for those that are flexible, have a good reputation and have been in business a long time – specific closing times are not guaranteed. Choosing the wrong mover can be a nightmare. Be careful, price alone should not be your only consideration.

As a general rule, plan to move in late afternoon. On busy closing days, or if you are selling and buying the same day, plan your move in after 5:00 p.m. Please do not start your move in until we advise you that your transaction is registered.

8. Arrange Change of Address

Change of address notification can all be handled through Canada Post, they have all the tools you need to notify friends, family, magazine subscriptions, credit card companies, bank and business associates. Don’t forget your provincial driver’s license!

9. Document Execution – Signing Documents

RealProperty or your lawyer will contact you 3 to 4 days prior to closing to arrange for a convenient time to sign documents. Everyone going on title, spouses and/or mortgage guarantors must be present for the meeting. You will also be advised of the balance of funds required to close your transaction. The funds must be brought to the signing appointment with your lawyer. The funds must be in the form of a certified cheque or bank draft made payable to your Lawyer’s name “in trust.” Cash will not be accepted. Also required are two forms of valid Identification will be required at least one must be photo ID (most acceptable forms of ID are valid drivers license, major Canadian credit card , valid Canadian passport or citizenship card).

10. Keys!

After closing and registration the keys will be released to you. Generally keys, unless other arrangements are made, are available at RealProperty. We can also make arrangements with your realtor or the other lawyer's office to hold keys for pick up from them if this is more convenient. New home buyers generally pick up keys at the builders new home site office.