Our
company is offering a service for buyers of residential real
estate. This service is designed to help buyers acquire title
to residential property at a reasonable price.
(The
fees quoted are based on a routine residential purchase)
A routine residential purchase has the following elements
:
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- the property sold is residential and does
not contain more than two rental units
- seller and buyer are not incorporated companies
and are both resident in Canada
- the purchase price is under $1,000,000
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- the Contract of Purchase and Sale has already
been finalized through the real estate agent
- the Contract of Purchase and Sale does not
provide for any holdbacks (other than for unpaid
property taxes and strata maintenance fees
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We can, of course, assist in transactions involving non-residents or companies or multiple residential units or holdbacks or higher purchase prices and can assist in preparing of the Contract of Purchase and Sale. Please contact
us for information on the additional costs, if any of these
elements are involved in your transaction.
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The following services are
included in the fees for a routine residential purchase:
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- obtaining
information from buyer regarding their purchase
- if
strata, obtaining information from management
company about bylaws, maintenance fees and any
special assessments and reviewing same
- preparing
transfer documentation and seller's statement
of adjustments and forwarding them to seller's
solicitor or notary public
- if
buyer is financing their purchase, contacting
lender or mortgage broker to obtain mortgage
instructions
- preparing
closing documents including documents related
to mortgage, property transfer tax form and
buyer's statement of adjustments
- attending
on execution of documents by buyer
- receiving
and reviewing documents signed by seller and
closing conditions imposed by seller's solicitor
notary public
- receiving
mortgage money
- reporting
to buyer, real estate agent and lender
- obtaining
Title Certificate from Land Title Office
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-
receiving and reviewing the Contract
- obtaining
land title and tax search information and reviewing
same
- obtaining
information from realtor about seller and seller's
solicitor or notary public
- arranging
with seller's solicitor or notary public, for
the discharge of the seller's financial charges
from title
- receiving
and reviewing mortgage instructions
- ordering,
receiving and reviewing insurance certificate
-
contacting buyer to arrange appointment to review
property search information and closing documents
- receiving
buyer's downpayment funds and depositing to
a trust account
- attending
upon closing and presentation of documents for
registration at Land Title Office
- upon
satisfactory application for registration, attending
to payment of sale money to seller
- following
up to ensure discharge of seller's financial
charges (if any)
- forwarding
Title Certificate with final report to buyer
and lender
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