Selling a Residence
Documents required by your lawyer to complete your file for closing
The following items must be provided to the Law Office by fax or by mail or by delivering photocopies to our office as soon as possible so that we can prepare the file for closing:
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);
Details of any existing mortgages, including:
- Name of mortgage company
- Address and telephone number
- Mortgage account reference number (if applicable)
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. (We also require total amount of property taxes paid for the prior year.)
- Copy of survey (if property is not a condominium);
- Your forwarding address and future telephone number (if available) after closing your sale.
Closing cheques and appointment
Prior to closing you will be contacted for an appointment to sign the closing documents and, at that time you will be advised of the amount of sale proceeds you will be receiving. At the time of our meeting, you will be required to provide me with keys to the subject property to be handed over to the purchaser on closing.
If you are on a pre-authorized payment plan for paying your property taxes, it is your responsibility to inform the property tax department to cancel your plan.
If you are selling a condominium unit, and you are on a pre-authorized payment plan for paying your common expenses it is your responsibility to inform the management office to cancel your plan.
Should there be any separate utility meters on the property, it is your responsibility to inform all utility departments of your intention to sell the property so they will perform a meter reading on closing and forward a final bill. Please contact me to obtain the phone numbers of the appropriate utility company, if required.
If you have any further questions pertaining to this matter, or any other matter please do not hesitate to contact my office.
Land transfer tax
Land Transfer Tax is a large component of the expense of virtually every home purchase. If you have never owned a home before, and you are buying a new home, you may be eligible for a rebate of some or all of your land transfer tax.