The steps to complete the purchase can feel confusing to any buyer, but your real estate team knows what to do and will assist you through to the closing date. Your team consists of your lawyer and their paralegal, your lender and Realtor.
Your lawyer will review the Agreement of Purchase and Sale, conduct a title search, confirm the status of property taxes, prepare the closing documents including the mortgage, and confirm the final amount you will be required to bring to your lawyer for the closing.
The lender will instruct your lawyer on the terms of the mortgage and the amount you are borrowing. The lender may not provide the instructions to your lawyer until a few days before closing. Once the instructions are provided the lawyer, the final total will come to you from your lawyer, usually a few days before closing.
On the closing day the Realtor will accompany you through the property to ensure it is in the same condition as the date you made the offer. It is best to not plan to move in on the closing date, as the timing on the day of the closing can vary depending on a number of factors.
Feel free to reach out to anyone on our Property Team for further information and be sure to check out our next series: Selling Your Home. Let’s work together to go #FurtherTogether