Tips for a Timely Real Estate closing when Selling a Home

Selling a home can be so stressful as you deal with moving. Here are some Tips to help avoid delays or issues with the Closing when you are Selling a home.

  • Mortgages on the Property.  All mortgages on the property must be paid from the sale proceeds including any secured line of credits or credit cards.  You must have enough money from the sale to cover the payout.
  • Real Property Report and compliance.   You must have one if your purchase and sale agreement requires it.
  • Martial Status.  If you are married, your spouse may be required to sign closing documents even if their name if not on the property title.
  • Identification.  You must have valid government issued photo ID available at your Lawyer Signing Meeting.
  • Sale Proceeds.   Sale proceeds must be paid to all title holders.
  • Contracts.  Be sure to address if you have any contracts related to the property like home security contracts, tenancy agreements or financing agreements for your windows or furnace.
  • Non-Resident for the Purposes of the Income Tax Act.  If you are considered a non-resident, there may be monies withheld from the sale proceeds.
  • All parties must be available for the Lawyer Signing Meeting

Share our content on: