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Selling Your Home
Selling your home is one of the greatest, busiest and worrying times of your life. While you may be ready to move onto a new home and adventure, there are still some important issues to sort out to make sure that your deal closes, and you get paid.
What Do You Need to Disclose
One important issue is knowing what defects, if any, you are required to disclose to prospective buyers? There some defects that you don’t have to disclose and others that you do. One general rule of thumb is that, in Ontario, you cannot hide defects from prospective buyers. If you want more information on this issue, feel free to call us at 705-476-6600 or email us at info@sangsterlaw.ca.
What We Do to Help:
- Review Your Agreement and identify any potential issues early.
- Negotiate any Buyer Complaints Regarding Title.
- Help you Discharge Your Mortgageand make sure you don’t get billed after closing.
- Help You Cancel Services like utilities, insurance, property taxes etc.
- Help Prepare, Review and Negotiate All Closing Documents. You do not want to sign something that will set you up for legal liability in the future.
- Ensure Buyer Pays before title is transferred.
We help hundreds of clients every year with similar issues that you may have. We have the experience to know solutions to most problems that sellers experience when closing their real estate deals. Issues like:
- Buyers Not Having the Money on Closing
- Buyers Refusing to Close
- Defects Discovered on Final Walk Through
- Your Home’s Title Has Issues You Did Not Know About
These issues may feel like a death sentence, but we have been there before, and we can help you close your deal, even when these issues arise. Please call us for a free quote at 705-476-6600 or email us at info@sangsterlaw.ca.
WHAT TO DO WHEN SELLING YOUR HOME IN ONTARIO
If you want as smooth of a sale as possible, we recommend you follow these basic tips when selling your home in Ontario.
- Hire a Real Estate Lawyer Early
Real Estate Sales can move quicker than you expect. It is important that you have someone on your side to help prevent problems before they arise. As your lawyer, we will
- Review your Agreement of Purchase and sale
- Protect you from unreasonable buyer demands
- Discharge any mortgages on title
- Help you with any issues that may arise when closing your deal.
- Do Not Hide Important Information
In Ontario there are some issues with your home that you NEED to disclose and others that you do not. It can be tempting to hide some defects in your house, but in Ontario that can get you in trouble. As your lawyer, we will:
- Answer your questions on whether some information must be disclosed
- Help you address any concerns for defects by the buyers.
- Have Your Agreement Reviewed
Real Estate Deals often come together quickly, so it can be tough to get your Agreement reviewed by a lawyer before signing. We still recommend that you do. There are many experienced Real Estate Agents out there, but there are many issues that can be missed with the tight deadlines some deals have. As your lawyer we will:
- Upon request, review any agreements you send us
- Provide advice on potential problems that could arise
- And give solutions to avoid those problems
- Get Organized Early
Your closing date will come up fast. It is important to schedule services like movers and cleaners right away to avoid any delays on your closing date.
- Cancel Important Services
There are a lot of steps that need to be done before your closing date. Insurance, taxes, utilities, mortgages and many other services need to be cancelled or discharged right before closing. As your lawyer we will help you:
- discharge your mortgage
- Advise service providers to cancel certain services
- Give you advice on how to disconnect other services
- Sign Your Closing Documents
A couple of days before closing, you will be asked to sign your closing documents. These documents are necessary for your transaction to close. As you lawyer we will help you:
- Sign required Disclosure documents
- Sign required tax documents
- Approve the Statement of Adjustments
- Vacate the Property
On closing day is when title and funds transfer, usually in the afternoon. To make the sale close sooner, it may be helpful to begin packing before closing day, so that you can be fully moved out once you receive payment. If you provide us with a copy of your keys, we will forward them to the purchasing lawyer and will provide you with your sale proceeds.
