If you are selling a home, this is what you can do to get ready for closing:
Please ﬁll out our INTAKE FORM as soon as possible to help us get started on your sale. This will provide us with all the information required to open your ﬁle. If you are uncertain about any of the information being requested, or if any of the information requested is unavailable, simply complete the intake form to the best of your ability and knowledge. You may also contact us at any time for assistance.
Your ﬁle will be assigned to one of our lawyers shortly after it has been opened. You should provide the following parties with your lawyer’s name, phone number, email address and fax number:
- your real estate agent; and
- your condominium corporation or property manager, as applicable.
It is a good idea to make yourself a separate list of the conditions of the oﬀer–such as ﬁnancing, status certiﬁcate, property inspection, etc.–so that you remain aware of any time-sensitive material that could cause the oﬀer to expire. You will also need to inform us when you waive any conditions that are part of the oﬀer.
Book your moving arrangements as soon as possible to ensure the best rates and availability of the moving company, or a truck if you are doing it yourself. Gaining access to a truck at the last minute may be challenging if you are moving, especially so in August, when most students are also moving back to school.
If you are moving out on the same day that your deal closes, we recommend that you schedule movers as early as possible in the day, as keys are usually released to the buyers between 1:00pm and 4:00pm.
You will need to meet one of our lawyers to review and sign your closing documents. Ideally, this appointment would take place 1-2 business days prior to your closing date. Once you have completed our INTAKE FORM, we will be in touch to schedule the meeting.
You are responsible to contact all utility companies (e.g.: City of Ottawa, hydro electricity, gas, rental companies for hot water tank/air conditioner/furnace/etc., as applicable) to advise them of ownership changes. For rental items, an assumption agreement may need to be signed by both parties; if so, please sign and forward the document to us as soon as possible. It is highly recommended that you do that as soon as possible as meter readings need to be arranged. Remember to cancel your pre-authorized payments (e.g.: condominium or association fees).
Please ask your real estate agent to leave a key in a lockbox to facilitate closing. All other keys should be left in the property for the buyers to ﬁnd after closing (typically, on the kitchen counter).
The proceeds from your sale will be made available to you on the day of your closing, but only once your transaction has been oﬃcially registered. Please note that registrations usually occur later in the afternoon (between 1:00pm and 5:00pm).
Property insurance should be cancelled immediately AFTER the closing. This way, should the closing of your transaction be delayed by a day or more, your property will always have appropriate coverage in place. Once the closing is completed and the title has been transferred, the new owners bear all risks from that date forward and it is then safe for you to cancel your insurance.
Plan your move as far ahead as possible and start packing early. One of the biggest stressors during a sale is waiting until the last minute to clean and vacate the property on the day of closing.