The seller and you have arrived at a mutually agreed upon offer. The next step is mostly the domain of the realtor and your lawyer who will do the necessary legal stuff to help you close the deal. But here is what you should be looking out for while the deal is being closed.
Ensure all conditions you had set forth are being met in the legal documents. You should get your home insured and have a letter saying what is covered in the insurance. This certifying letter will be required when you go for the mortgage application. The lender will verify and confirm the documents related to mortgage. A uple of days before the closing your lawyer will guide you about the certified cheques that you will need to complete the process. Your lawyer will then go over the documents and give you the go ahead to sign them.
The lawyer will ensure that house utilities such as water and hydro are transferred to your name. Other services such as cable and phone should be looked after by you.
If you are renting your current residence, you should provide appropriate notice periods as per your agreement. Take the necessary steps to legally change your address by visiting your local post office. The address on your driving license can be changed by contacting the Transportation Ministry.
The Big Day!!
After going through dozens of properties and being on an emotional roller coaster, the Big Day is here. Together with your lawyer and realtor you will be handed the keys to your home on the day of closing. The hard work is over and it is time to celebrate.