Finance & Refinance

Replacing your old mortgage with a new mortgage? Renewing your mortgage? Placing a mortgage on your mortgage free home? Securing a second mortgage? To simplify the process, DKS Law provides the following information to advise on some of your needs, requirements as well as responsibilities.

Information required by your attorney

  1. The amount of your current years interim or final property/realty tax bill and the amount paid to date.
  2. Loan/reference numbers and branch/bank address, phone and fax number for any and all mortgages and/or lines of credit that we need to pay out.
  3. Upon DKS Law paying out any credit cards, our team requires the account numbers and copies of your most recent statements.
  4. Copy of Fire Insurance binder. You may request your insurance company to fax/email it to our office. The insurance binder is to have the new lender listed as the first loss payee.
  5. If your property is a condominium, you should have a copy of the current fire insurance binder in your annual general meeting packet. Alternatively, you may request a copy from your property management.
  6. If your property is a condominium, you may be asked to provide a status certificate depending on the mortgage lender.
  7. Marital Status and date of birth of each person on title.

Signing Legal Documents

Typically two (2) days prior to the closing date, you will be asked to visit our office to sign closing documents. You will be required to provide at least one (1) photo ID (driver’s License, passport, citizenship card) along with another piece of ID, which may be one of the above listed or a major credit card. Please note – health cards are not an accepted form of identification in Ontario.

Closing Day

Closing date registration ordinarily occurs between 2:00 p.m. and 5:00 p.m. Your funds cannot be released until registration is completed. Our team will notify you as soon as the transaction is registered and closed, at which time funds will be available for pick-up.

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