• SUMMIT LEGAL GROUP

Finalizing The Sale Of Your Residential Property


Selling a home is a busy time, to ensure the sale of your property goes smoothly there are some important matters to attend to prior to your closing.

SERVICE COMMENCEMENT

Upon receipt of your Purchase Agreement our team will begin working on your file. At such time, one of our real estate paralegals will contact you to confirm receipt of the documents and answer any preliminary questions that you may have.

LEGAL FEES

I strive to deliver the best possible legal service for reasonable and competitive fees. I offer flat rate legal fees for Real Estate transactions which are inclusive of all regular disbursements and GST where applicable.

Included in our basic fees are the following:

  • Receipt and review of conveyancing instructions;

  • Order and review of Land Title and municipal tax searches;

  • Preparation of Statement of Adjustments and Transfer of Land and other relevant documents;

  • Review Real Property Report;

  • Contact and meet with you to review and execute all documents;

  • Submit Statement of Adjustments and Transfer of Land to Purchaser’s solicitor;

  • Receipt of funds from Purchaser’s solicitor. Pay out all financial encumbrances on title and deposit sale proceeds to the seller;

  • Receipt and review of Land Titles once all financial encumbrances have been discharged from title, and forward clear title to Purchaser’s solicitor.

If your transaction poses unexpected and extra time consuming difficulties, additional costs may result. Usually such difficulties include Real Property Report non-compliance issues, such as encroachments or development permit applications.

YOUR APPOINTMENT (1-2 Weeks Prior to Close)

Once I have received all necessary documentation from you or your realtor we will contact you to arrange an appointment at our office. For the appointment I ask that you bring photo ID (DL or Passport and SIN Card/Major CC) and a void cheque. We will advise you in greater detail at the time of booking the appointment.

POSSESSION DETAILS

Release of Keys:

On the day of possession we will contact your real estate agent once keys are able to be released.

Utilities:

Prior to possession you will need to arrange for the disconnection of the relevant utilities and related services by contacting the providers of cable, electricity, gas, telephone, television, water and sewer. You may also wish to arrange to have your mail forwarded to your new mailing address.

Insurance:

You will need to arrange to have your home insurance policy cancelled following possession.

Property Taxes:

Our office will adjust all real property taxes as of your possession date. Details of this calculation will be discussed during your signing appointment. Should you be paying your taxes to the City of Calgary monthly via the Tax Instalment Payment Plan (T.I.P.P.) please advise our office and we will cancel future payments on your behalf.

REAL PROPERTY REPORT

It is standard practice for a Real Property Report along with evidence of municipal compliance be provided to the purchaser. It is necessary for the Real Property Report to show all improvements on the land including all buildings, fences, air conditioning units and decks. I ask that you ensure the City has stamped a Certificate of Compliance stamp on the Real Property Report. If you have any questions in regard to your existing Real Property Report, we would invite you to call me to discuss your concerns. Our office can arrange to have a Real Property Report prepared for you.

FINAL REPORT

Once your transaction has closed, I will forward a reporting letter, together with a copy of the Statement of Adjustments and our Trust Reconciliation Statement, which details all adjustments made and accounts for all funds received and disbursed on your behalf.

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