Real Estate Process
• If You Are Buying a Home
• If You AreSelling a Home
If you are buying a home:
Up to 4 months before closing
- You or your agent will fax us the Agreement of Purchase and Sale
- If you are purchasing a condominium, we will review the status certificate when requested.
- We will conduct a title search on the property
- We will requisition the vendor’s lawyer to clear any title defects
- We will have the vendors sign:
- Declaration that they own the property
- Bill of Sale for Personal Property (fridge, stove, etc…)
- Declaration that there is no potential for Construction Liens
- Other Undertakings
- We will contact your bank or mortgage financing company
- We will contact you to ask for your legal name, capacity to take title (joint tenancy or tenants-in-common and your date of birth
1 week before closing
- If you are purchasing a condominium, we will call to confirm that there are no changes in the Status Certificate
- We will contact you to bring in photo ID and closing funds
- You will attend at our office to sign documents
Day of closing
- We will update our title search of the property
- You will attend at our office to pick up keys
After closing
- We will send you a reporting letter
If you are selling a home:
Up to 4 months before closing
- You or your agent will fax us the Agreement of Purchase and Sale
- We will request a mortgage discharge statement
- We will respond to the purchaser’s requisitions and clear any title defects
- We will have the purchasers sign:
- Undertaking to Re-Adjust the Statement of Adjustments
- Direction Re-Title
1 week before closing
- We will contact you to bring in keys
- You will attend at our office to sign documents
Day of closing
- You may attend at our office to pick up sale proceeds, if available
After closing
- We will direct funds to your mortgage company
- We will direct funds to any other creditor
- We will send you a reporting letter