Buying a Home is so rewarding and an exciting time. Here are some Tips to help avoid delays or issues with the Closing.
- Down Payment and Closing Costs. You must have the funds available in your account at least 1 week before the Closing Date. If you are withdrawing from an RRSP it could take upwards of 1 week to receive the funds. Investments may also take time to settle.
- Lender Requirements. Your lender may require additional documentation or appraisals to comply with their underwriting requirements. Be sure that all lender requested documentation is submitted in a timely fashion so that the Lender instructs your Real Estate Lawyer well in advance of the Closing Date.
- Identification. You must have valid government issued photo ID available at your Lawyer Signing Meeting.
- All parties must be available for the Lawyer Signing Meeting.
- Power of Attorney. The use of a power of attorney must be approved in advance of closing by your lender and must be in a form accepted for use in Alberta.
- Martial Status. If you are married, your spouse may be required to sign Closing Documents even if their name will be not on the property title.
Feel free to call our office if you have any questions about the Closing Process for your Home Purchase.
