Step-by-Step Guide to Real Estate Transactions

Step by Step Guide

At Shaikh Law Firm, we provide expert legal services for all your real estate needs, including purchases, sales, and refinancing. Our goal is to ensure a seamless and stress-free experience for you. Below, you’ll find detailed step-by-step guides for each type of transaction

General Information for All Transactions

Contact our office to discuss your needs and schedule your free 15-minute consultation.
Provide the necessary documents and information (specific requirements are outlined under each transaction type below).
Review and sign the retainer agreement to formally engage our services.

For Purchases

Step 1: Document Collection

Provide the following:
- Agreement of Purchase and Sale
- Two valid IDs for all parties (e.g., driver’s license and passport; not health cards)
- Void cheque for refunds
- Spousal status details (if applicable)
If the purchaser is a corporation, include:
- Articles of Incorporation
- Directors’ names and IDs

Step 2: Review of Documents

We will review your Agreement of Purchase and Sale and conduct a title search to ensure the property has no liens or encumbrances.

Step 3: Coordination with Lenders

If you are obtaining a mortgage:
- Ensure your lender sends us mortgage instructions at least one week before closing (rush fees apply for delays).
- Provide fire insurance details and request your insurance broker to send the binder to info@slclawyer.ca at least three working days before closing.

Step 4: Signing and Closing

Attend your signing appointment (in person or online).
On the closing day, we will:
- Transfer funds to the seller’s lawyer.
- Transfer the title to your name.
You’ll receive confirmation of ownership and a final report with all signed documents.

For Sale

Step 1: Document Collection

Provide the following:
- Agreement of Purchase and Sale
- Two valid IDs for all parties
- Mortgage discharge details (if applicable)

Step 2: Review of Documents

We will review your Agreement of Purchase and Sale to confirm all terms align with your interests.
We’ll also ensure the title is clear for transfer.

Step 3: Coordination with the Buyer’s Lawyer

We will work with the buyer’s lawyer to provide the required documentation, including:
- Statement of Adjustments
- Transfer documents

Step 4: Signing and Closing

Attend your signing appointment (in person or online).
On the closing day:
- Funds will be transferred to your account.
- The title will be transferred to the buyer.

For Refinancing

Step 1: Document Collection

Provide the following:
- Two valid IDs for all parties
- Details of the new lender and mortgage
- Void cheque for refunds
If applicable, include corporate details such as:
- Articles of Incorporation
- Directors’ names and IDs

Step 2: Coordination with the Lender

Ensure your lender provides us with mortgage instructions at least one week before closing. Rush fees apply for delays.

Step 3: Title Search and Signing

We will conduct a title search to ensure the property is clear for refinancing.
Attend your signing appointment (in person or online).

Step 4: Closing

We will register the new mortgage and provide the final documents for your records.

Frequently Asked Questions

What happens if there are delays in receiving mortgage instructions?

A rush fee of $450 + HST applies if instructions are received less than a week before closing.

Do I need title insurance?

Yes, we will arrange title insurance to protect you against potential risks such as fraud or title defects.

What should I do if I’m outside Canada during the transaction?

Let us know immediately so we can arrange for remote signing options or a power of attorney if necessary.

Call us

(905) 795 7757

E-Mail

info@slclawyer.ca

Fax

(905) 795 1271

We Serve Clients Across Ontario

Multiple Meeting Locations