MORTGAGE: When purchasing, make your offer conditional on financing; before you sell, know what penalties you have to pay to your mortgage lender.
REAL PROPERTY REPORT: As Purchaser, you must obtain an original Real Property Report and a Zoning Compliance Certificate, of recent or current date; these are required both for your own use, and as a requirement of the mortgage lender. The usual sale agreement states that the Seller will provide these to the Purchaser. Unfortunately, many sellers are not made aware of this requirement and they do not provide them, contrary to their agreement. There are extra costs involved – be vigilant!
UTILITIES: Arrange directly with the utility companies to have meters read, the final bills sent, and new accounts opened for telephone, power, gas and other utilities.
PROPERTY TAXES: Your lawyer will make the necessary adjustments for accrued or paid property taxes.
INSURANCE: You must obtain fire insurance as Purchaser before closing; as Seller, do not have your fire insurance cancelled until you have been fully paid.
POSSESSION: Possession is usually at 12:00 noon on the completion date; the Realtor will deliver the KEY after receiving the approval of the Seller’s lawyer.
Buying or selling a Home is a major transaction. We will do our utmost to ensure that your transaction is completed on time, and to your fullest satisfaction.