STEPS IN A SALE FILE

 

Every file is unique, but for the majority of residential sale files there is a clear step-by-step process. It is common for people to be selling one property while buying another. We are able to assist with both transactions. It is our general advice that these be arranged to close at least a 2 weeks apart to allow for any issues to be sorted between transactions. 

  1. An Agreement of Purchase and Sale is prepared and agreed to.

    1. This is normally completed by a realtor but in private transactions or transactions that are more complicated you may wish to have a real estate lawyer assist in drafting the agreement. 

  2. Client Instructions

    1. You will contact us or your realtor will provide us with initial instructions. We will then gather all the information needed, such as identity documents, and details of any mortgages to be removed. ​

  3. Reporting to Client

    1. We will then review the Agreement of ​Purchase and Sale, review the title and any charges, liens, or encumbrances registered and report to you as to the initial state of title. 

  4. Requesting Funds and Clearing Title​

    1. We will arrange with the purchaser's solicitor or notary what charges on title need to be removed and how monies will be exchanged. 

    2. A final statement will be prepared showing the exact amount of money that will be paid to close the transaction and we will arrange to sign the required documents prior to the closing day. 

  5. Closing

    1. On the day of closing, we will obtain the monies, transfer them where they need to go, and ensure that a package is submitted to the Land Title Office to transfer the title. Most transactions are completed on legal undertakings to ensure that these steps are completed and followed up on. ​

  6. Final Reporting​

    1. Once the transaction has closed, we will prepare a full report and send to you confirming that the transfer has been completed, showing you the state of title, and confirming any charges that needed to be removed are removed. ​

Paperwork

Nobody likes paperwork - but if you gather all the documents together and submit in one package to our office, it can speed matters up and reduce stress.

Deadlines

Real estate law is all about deadlines. Contacting us quickly and starting the process early can avoid most issues ever arising.

Ask Questions

If you are confused about something or want clarification - just ask. We are here to assist you and guide you through the process.