STEPS TO BUYING A PROPERTY
Once you have decided to buy a property and have obtained your mortgage approval you would need to identify which lawyer will prepare your transfer documentation. Your Lawyer would need the following information.
- Copy of the Offer to Purchase.
- Date of Birth, Marital Status, Contact Information, with two pieces of ID of each individual who will be on the title.
- If you have obtained a Mortgage then you would need to instruct your bank to fax Mortgage Instructions to your lawyer.
- You would need to instruct your Fire Insurance broker to fax the copy of the Fire Insurance or Binder of Fire Insurance to your lawyer.
- Set-up an appointment to sign your documents with your lawyer.
- Receive Keys to the Property.
- Do not enter the Property Prior to Possession date and time.
- Upon Possession note meter reading of all Utilities such as Hydro, gas and water and set up your new account.
- Receive Registered Title from your lawyer within two to three weeks confirming transfer of Ownership and Registration of Mortgage in your name.