Generally clients receive keys the day prior to their possession date for use on the exact date and time of possession. If possession lands on a weekend or Monday typically clients receive keys the Friday before. Again, clients are not permitted to enter the home until their exact date and time of possession set out in the offer to purchase. NOTE* Keys will not be released to purchase until proof of home insurance is provided.

No legal fees are required upfront. We only require legal fees and funds for your purchase immediately before you take possession. Legal fees for your purchase will be included in your total closing costs which you will bring in with you by way of the bank draft or certified cheque at the time of our signing appointment. For a sale, legal fees are taken out of the sale proceeds once the transaction is completed.

During the course of your sale, purchase or, refinance transaction, we will incur and pay disbursements on your behalf. These are out-of-pocket expenses that you would otherwise be required to pay if you handled the transaction yourself. Because your lawyer generally pays these expenses up front, your lawyers office will seek reimbursement by including these expenses on your statement of account.

Once we receive your mortgage instructions, you will be contacted to set up a signing appointment. Once your instructions are received and your appointment is confirmed, you will receive an email outlining what you will be required to bring along with you to our office along with the amount of closing costs funds required by you over and above your mortgage financing that you are required to bring with you to your signing appointment. Please ensure that these funds are provided to our office by certified cheque or bank draft only (no personal cheques are acceptable).

Shortly before possession date, the purchaser must bring a certified cheque or bank draft for the balance of the monies owing on the down payment plus the “closing costs” to the lawyer’s office. There are a number of items which are included in the closing costs. The following information is intended to give the purchaser a greater understanding of the additional costs involved in the purchase of a home. The closing costs typically includes all the additional costs related to the purchase of your property, such as property tax adjustments (if applicable) and interest on the unpaid balance of the purchase price (as set out in your offer to purchase), registration costs, land transfer taxes (as set out by the government), title insurance, legal fees and disbursements related to your purchase. Disbursements are expenses that your lawyer charges you for out-of-pocket expenses that you would otherwise be required to pay if you handled the transaction yourself.

Many of our clients use the equity in their existing home to finance a purchase when completing both a purchase and sale. Talk to your mortgage professional to find out if you need such loan to pay for your purchase which you await for your from the sale of your home. It is important that you discuss bridge financing with your financial institution to arrange a short term loan if this is something you require well in advance.