STEPS TO BUYING A PROPERTY

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.

  1. Copy of the Offer to Purchase.
  2. Date of Birth, Marital Status, Contact Information, with two pieces of ID of each individual who will be on the title.
  3. If you have obtained a Mortgage then you would need to instruct your bank to fax Mortgage Instructions to your lawyer.
  4. 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.
  5. Set-up an appointment to sign your documents with your lawyer.
  6. Receive Keys to the Property.
  7. Do not enter the Property Prior to Possession date and time.
  8. Upon Possession note meter reading of all Utilities such as Hydro, gas and water and set up your new account.
  9. Receive Registered Title from your lawyer within two to three weeks confirming transfer of Ownership and Registration of Mortgage in your name.