To this point, we’ve worked hard together preparing your home for a profitable sale and now you are receiving an offer. What happens now? Should you accept the offer as is? Do you make a counter offer? Or, do you flat out reject the offer?
All offers are presented for your consideration. Often there is an existing buyer currently searching who may make an offer.
Once an offer is agreed upon and conditions are waived. The following are the important steps to complete the sale:
- Contact your lawyer to notify him/her that the agreement has been signed.
- Immediately begin satisfying any conditions of the agreement that requires your participation.
- Notify your lawyer and mortgage broker if the buyer
is assuming your mortgage. - Contact the utilities, telephone and cable companies about transfer or removal of services. Your lawyer can help you with this.
- Call your insurance agent and arrange cancellation of your homeowners insurance.
- Send out your change of address notices and advise the post office. Also, change your address on your license and registration.
- If you’re paying off your mortgage, your lawyer will require a letter from your lender outlining your balance and any penalties.
- A few days before closing, your lawyer will ask you to sign the paper work to change title to the buyer.
- On closing day, your lawyer will receive and distribute proceeds from the sale, pay off your mortgage and other costs, and give you a cheque for the net proceeds.
CONDOMINIUM DOCUMENTATION
If the property we are assisting you to sell is a condominium the buyer will normally request a review of the documents pertaining to your complex. To ensure this is a smooth process, we recommend that you compile the documents listed below.
RE-SALE PROPERTY CHECKLIST*
NEW CONSTRUCTION CHECKLIST
CONVERSION PROPERTY CHECKLIST