Selling a Property
Whether you're a first-time seller or a seasoned real estate investor, selling a property can be a complex and daunting process. From pricing your property to negotiating with potential buyers, there are many steps involved in successfully selling a property.
At our law firm, we understand that selling a property can be overwhelming, which is why we've created this comprehensive guide to provide you with the information you need to navigate the process with confidence.
Our law firm takes a comprehensive approach to transactions, covering numerous tasks and procedures to ensure a successful outcome. Here are some of the key steps we undertake during a transaction:
Step 1:
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Review and complete the draft deed which formally transfers the property from you to the purchaser.
Step 2:
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Prepare the statement of adjustments for the purchaser’s lawyer. The purpose of the statement of adjustments is to calculate the precise amount that will be owed at closing.
Step 3:
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Write to your mortgage company to determine the exact amount owing on the date of closing.
Step 4:
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Prepare and electronically register the necessary discharge of mortgage.
Step 5:
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Perform a search of the property. This outlines any existing mortgages and other instruments which are registered on the property.
Step 6:
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Answer the letter of requisition from the purchaser’s lawyer and discuss with you any potential problems that could delay the closing.
Step 7:
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Oversee the execution of all the necessary documents.
Step 8:
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Instruct the purchaser’s lawyer on how to transfer the funds from the sale. In most circumstances, separate cheques are requested and made payable.
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