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What happens when you first meet a real estate lawyer:
- Have your real estate agent send to your real estate lawyer the
Agreement of Purchase and Sale along with new client
contact information and vendor solicitor information including name,
address and phone number.
- Have a list of prepared questions when you make the initial contact
with your lawyer.
- Your list should include a question on any extra costs that
may arise including land transfer
tax and mortgage insurance, title insurance and adjustments.
- Provide your banker/mortgagee with your real estate lawyer’s
contact information so that they can provide the mortgage instructions
directly to the lawyer.
- Bring 2 pieces of personal identification including
driver’s license/passport/ citizenship and a major credit card
(no healthcards).
- Advise lawyer as to Marital Status and who will be the owners of
the property.
- Before closing you must arrange home (fire and liability) insurance
which is required as of the date of closing.
- Insurance is not normally necessary for a condominium but it
is recommended
- Mortgagee must be noted on insurance policy
- Advise lawyer where you wish to pick up the keys for your new property.
- Sign up appointment happens before closing (day
or two) and you come and sign all documents and provide certified
closing funds.
- On date of closing, the purchaser’s lawyer
delivers certified closing funds, and in exchange, the vendor’s
lawyer delivers the closing documentation and keys. Once completed,
the deed will be
registered and keys can be released to the purchaser and funds released
to the vendor.
- Reporting Letter will be sent to you and includes
all relevant details of the transaction. This letter will be mailed
to you within 3 weeks from closing date.
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