Congratulations on selling your home! After you have taken steps to stage or present your home for viewings, you should gather together all of the documents relating to your home. You will need to present these documents to our office after you complete your Agreement of Purchase and Sale.
These documents include, but are not limited to, your title deed, the plan of survey, mortgage statements of all outstanding mortgages with the address of all mortgagees, the current and previous year’s property tax bills, the size of your oil tank if your property has an oil tank, water bill, other utility bills, existing insurance policy, leases if there are tenants, copies of any contracts the purchaser has agreed to assume, and any other documents that you as the vendor had agreed to provide.
Please ensure that all of your bills are updated and that your various providers are notified of your move. You must make arrangements with the various municipal departments to make final meter readings on the day of closing so that you do not receive utility bills for usage after the sale of your home. You will need to contact your cable and telephone service provider to either disconnect services or to move your services to your new home. If your water is on a flat rate, you will need to notify our office as soon as possible so that we can make the appropriate adjustments for prepayment. If your home is heated by oil, you should notify our office in writing and arrange to fill up your fuel oil tank as of the date of closing so that the purchaser will have a full tank. A copy of the receipt should be provided to our office so that you can be given credit for a full tank of fuel oil on closing. You MUST pay all property tax, condominium maintenance fees, or mortgage payments due prior to the closing date and our law office will make adjustments for you as of the day of closing.
Please also ensure that you terminate your periodic payment arrangements, such as installments, pre-authorized payments, and post-dated cheques, for payments after your day of closing at your bank.
Please do NOT cancel your fire insurance policy until you have confirmed with us that your sale has closed. You must also advise your fire insurance provider if your home will be vacant for more than 30 days prior to closing.
You will need to make at least two appointments with our office. In our first meeting, we will need to obtain at least two pieces of identification from each individual with an interest in the property, the above noted documents, and the consents of all individuals with an interest in the property. In our second meeting, we will need to obtain keys to your home so that we can provide keys to the purchaser(s) on closing. You should also provide us with a direction with respect to closing funds. At this meeting, you will also have to sign all required closing documents.
When your real estate sale closes, we will call you and distribute your closing funds in accordance with your direction. We will pay out your mortgage, if you have one, and notify your real estate agent. If you are using a real estate agent and the purchaser’s deposit is greater than the commission, you will receive the difference directly from the real estate brokerage.
If you have questions at any stage of your real estate sale, please do not hesitate to contact us. Our aim at Carlson Law is to provide you with answers to your questions, personal service and attention, and great legal work to help you close your real estate sale.