Steps for Purchasing a Home

Steps for Purchasing a Home
  1. Sign an Agreement of Purchase and Sale (between the two parties with your broker)
  2. Arrange financing
  3. Contact a lawyer to manage the transaction and look after your rights.
  4. PurchaseĀ home/fire insurance (Only applicable for purchase of a home). Be sure to put the name of the mortgagee asĀ ” First Mortgagee” and provide the address of your mortgage provider. Fax a copy of the insurance policy to your lawyer.
  5. Arrange for transfer of property taxes and utilities on day of closing. Click here for the list of phone numbers.
  6. Sign closing documents with your lawyer and provide a certified cheque or bank draft for the amount sufficient to cover the adjusted balance due on closing, the invoice, land transfer tax and registration fees.
  7. Pick up your keys on Closing Day.