Once the negotiations are complete, you’ll receive the finalized contract with all parties’ signatures.  This document is more formally known as The Agreement of Purchase and Sale.  Your REALTOR® will now be working through the following:

  • Reviewing the finalized contract to ensure all information displayed is accurate and that all dates can be met in a timely fashion. 

  • Walking your through the Sale Process (typically this means re-explaining the   documents and filling you in on what is now happening).

  • Following up to ensure all conditions are met by their required due date (ie Financing)

  • Your REALTOR® will be verifying any financing requirements with your lending institution, which may require a further appointment by an appraiser to visit the seller’s home to ensure its value to secure your loan (mortgage).

  • Assisting you in your selection of a Lawyer (if you have not already selected one)

  • Sending the finalized paperwork off to your Lawyer

  • Arranging appointments for Lenders or Home Inspectors to access the Seller’s home.

  • Your lawyer will be acting on your behalf  to perform searches on your property to ensure the title is clear (ie. no property taxes are in arrears). 

  • Gathering any supplementary documents required to send to your Lawyer (Waivers, amendments, surveys, supplements).

Your purchase now complete, you can hopefully begin to celebrate!  Remember though, the sold sign will only appear when all conditions in the agreement have been fulfilled and your Agreement becomes firm and binding. 

 

You now need to:

  • Start packing

  • Cooperate with your REALTOR® in selecting the Lawyer who will represent you in   closing your sale transaction (your REALTOR® can recommend several reputable firms).

  • Contact your Lawyer to set up a convenient time to meet to discuss your legal obligations in assisting with the transaction