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Payment to You of Proceeds After Closing
Typically, the net sale proceeds are available by certified cheque
payable to the registered owners at about 5:30 pm on the day of closing
your sale.
Appointment in the Law Office Prior to Closing
You
will typically be contacted about two days prior to closing for an
appointment to sign the closing documents at the law office. Please be
prepared to leave at least one key for the sold property with this
office at that time.
Utilities, Cable T.V. and Moving Checklist
You must notify (prior to closing) all applicable departments concerned
to confirm arrangements for making final meter readings. Any such
meters will be read on the date for completing the sale so that you will
only be responsible for payment of utility accounts up to the date of
closing. If you have cable television, please advise the cable company
of your move. You must also arrange for telephone service to be
disconnected. Click here for a detailed
Moving To-Do-List.
Installment Payments due Prior to Closing and Postdated Cheques
Please note
that any property tax, common expense, or mortgage payments falling due
on a date prior to the closing date must be paid by you before
closing. Any necessary adjustments will be made by the lawyers office
on closing for any prepaid payments that cover a time period beyond
closing. It is your responsibility as a vendor to make certain that any
such pre-authorized chequing plans or post-dated cheques are stopped at
your bank for any payments falling due after the closing date for items
such as property tax payments or common area expenses.
Documents Required by the Law Office to Finalize Processing of File for
Closing
The following items must be provided to the law office as soon as
possible so that we can prepare the file for closing in advance of the
closing date:
1.
Copy of Transfer/Deed (which is the ownership document to be found in
your legal documents which you would have received when you purchased
the property);
2.
Details of any existing mortgages, including:
o
Name of mortgage company
o
Address and telephone number
o
Mortgage account reference number (if applicable)
3.
Current year's realty tax bills (including any existing property tax
bill and any future bill received prior to closing) as well as details
of payments being made by you prior to closing date.
4.
Copy of survey (if property is not a condominium); |
